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Saturday, 17 September 2011

Investment of $86 billion by VW in bid to become No. 1

Investment of 62.4 billion euros ($86 billion) is done by Volkswagen over the next five years as it seeks to supplant General Motors Co. and Toyota Motor Corp. at the top of the industry.

"The Volkswagen Group is investing a record amount in forward-looking projects to achieve its goal of becoming the world's best automobile manufacturer," CEO Martin Winterkorn expressed in a statement.

Approved by a board of 20 members from VW that the spending on plants, vehicles and research and development for VW's nine brands, including Audi, Skoda, Seat, Bentley and the core VW marque, from 2012 through 2016.

After the board meeting Winterkorn stated that"Top of the agenda for us are investments in environmentally friendly, sustainable models and drives."Vcommindia News

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