Volkswagen to invest €51.6bn over next 5 years
Posted by Susannah Mayers
The Volkswagen Group has announced that it is to invest around €51.6 billion (£44 billion) in its automotive division over the next five years.
Some €41.3 billion of this will be invested in property, its plants and equipment, most of which will be in Germany.
"The Volkswagen Group will help shape the technological turning point in key areas of the automotive industry and, to do this, will continue investing in environmentally friendly technologies, efficient drives and new models," said Dr Martin Winterkorn, chairman of the board of management of Volkswagen Aktiengesellschaft.
He went on to say that the investment programme that has now been approved by the board will play a significant role in making Volkswagen the "world's most future-proof automotive group".
Earlier this week, Volkswagen announced that the latest incarnation of the Eos coupe cabriolet, which features a wide range of technical and visual enhancements, had gone on display at the Los Angeles Auto Show. 
