Volkswagen Group to invest €50bn

Volkswagen Group has announced a spending programme of over €50bn in its automotive division over the next three years.

As the Wolfsburg-based company continues its drive to overtake Toyota as the world’s largest auto maker by 2018, it remains committed to increasing its presence outside Europe in China, Mexico, and Russia.

It is estimated that Volkswagen will invest almost as much in plants and equipment over the next three years as Toyota and General Motors combined.