Volkswagen plans to invest 51.6 billion euros (U.S. $ 121.2 billion) between 2011 and 2015 in its automotive division. Most of the resources or 41.3 billion euros ($ 97 billion) will be allocated for property, plant and equipment and 10.3 billion euros ($ 24.2 billion) for development costs. Of this amount, more than half must stay in Germany.
The company warned it would spend 27.7 billion euros ($ 65 billion) to develop new vehicles and remodel existing ones. It will also invest resources in improvements of plants and equipment. The company also intends to take forward the development of hybrid and electric engines.
This is the result of the investment plan for the years between 2011 and 2015, discussed the company’s supervisory board at a meeting. The chief executive of Volkswagen, Martin Winterkorn, said: “The Volkswagen Group will invest in technologies that respect the environment, efficient incentives and new models to contribute to the technological change of the automotive industry.”
