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Volkswagen to invest $27 bn in core brand until 2022

VW had announced it will be investing more than $12 bn with its partners to make and develop a range of new-energy vehicles in China


Volkswagen will invest 22.8 billion euros ($26.9 billion) in its main car brand over the next five years, it said on Saturday, a day after it announced a spending programme aimed at bolstering its position as a maker of electric cars. Most of that sum, around 14 billion euros, will be spent in Germany, Volkswagen said, adding that one of the key measures included a 1 billion euro injection to transform the carmaker's Zwickau plant into a pure e-mobility facility. "The investment package which has now been adopted will give a decisive boost to the largest product and ...

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First Published: Sun, November 19 2017. 01:27 IST