Friday, November 19, 2010

VW to invest $70 billion over next 5 years

Volkswagen AG says it plans to invest Euro 51.6 billion ($70 billion) over the next five years as it focuses on modernizing and extending its brands' product range.
The company said Friday that it will put Euro 41.3 billion of the money into property, plant and equipment for its automotive division -- 57 percent of that in Germany, where it has its Wolfsburg headquarters.