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VW will invest over US$65 billion to be an automotive power

Admin | 27.11.2012

The German group Volkswagen informed last Friday that they will invest US$64.7 billion in their automotive business within the next three years, pursuing their goal to become the biggest automobiles manufacturer this decade.

The German group Volkswagen informed last Friday that they will invest US$64.7 billion in their automotive business within the next three years, pursuing their goal to become the biggest automobiles manufacturer this decade.

“In spite of the challenging economic environment, we are investing more than ever before to reach our long term goals”, Martin Winterkorn, Executive President, informed last Friday in a press release.

Intensifying investment in products and technology is considered something that should allow VW to consolidate its leadership over its beaten Mediterranean competitors, which have decelerated or postponed their vehicles, engine technologies and platform modernization programs, while they struggle against high fixed costs in a contracting European market.

Under the company’s new investment plan, around US$18.560 billion will be allocated to the new Audi Plant in Mexico, the expansion of Porsche factory in Leipzig and an increase in the production of automatic gear boxes, VW informed.

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