Volkswagen Group earmark €50.2 billion investment in new models over next 3 years
With objective set to becoming world’s No.1 auto makers and overtaking Toyota Motor Corp (currently in topmost position) by end of this decade is what…
With objective set to becoming world’s No.1 auto makers and overtaking Toyota Motor Corp (currently in topmost position) by end of this decade is what has instigated Volkswagen AG to allocate and set aside €50.2 billion ($64.7 billion) for investment. Investments in the form of new models, state of the art plants, buildings and research and development projects for latest in technologies are what Volkswagen AG has in store in the coming decade. The company will be concentrating on emerging markets such as Mexico, Russia and China while a major portion will be invested in Europe itself.
Investments will also include MAN and Porsche brands and though economic conditions are not favorable at the moment, the company is looking ahead at long term goals through this investment planning. This will not only strengthen their position in the market but will steer them ahead to an even brighter future.
€39.2 billion has been earmarked for investment in property, plant and equipment with over 60% to be invested in Germany which will ensure that the company’s 27 German production sites are ahead of innovation and competition. €10.6 billion is set aside for capitalized development while a share is also being invested into development of efficient vehicles and eco friendly products in the period upto 2015.