Volkswagen To Invest $71 BILLION Over Next 5 Years In Quest To Be Number One

Volkswagen AG, Europe’s largest carmaker, will invest 51.6 billion euros ($71 billion) in the automotive business over the next five years to help reach a goal of surpassing Toyota Motor Corp. in sales and profit.

The 20-member supervisory board approved the outlays for plants, vehicles and developing the carmaker’s nine brands at a meeting today, Wolfsburg, Germany-based VW said in an e-mailed statement. The automaker’s Chinese joint ventures will spend an additional 10.6 billion euros through 2015, the carmaker said.


 

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knowitall1985 - 11/19/2010 5:03:06 PM

+6 Boost

Good!! then the US govt. can go after them like they did Toyota and milk them dry with all our blood sucking lawyers. LOL

uaw_lax - 11/20/2010 11:58:46 AM

0 Boost

is the 71 BIL for R&D or is it for...........

a new acquisition? HMMMMMM

veyron1001 - 11/22/2010 8:35:41 PM

+1 Boost

Atleast VW has money they can actually spend.

wins555 - 11/22/2010 9:02:14 AM

+1 Boost

Toyota probably earned that much the last 2 to 3 years.