Volkswagen has announced an investment plan worth up to 50,2 billion between 2013 and 2015 for new products, factories and technologies. The explicit goal of the first European automaker is to extend its global leadership by 2018. Two giants such as General Motors and Toyota are in the crosshairs.
“Despite the difficult economic scenario – commented the CEO, Martin Winetrkorn, after the supervisory board gave the green light to the plan – we want to invest more than we ever have in the past to achieve our long-term goals”.
About 39 billion will be allocated to fixed investments, of which 60% in Germany. Following the new investment plan, which also covers the Group's most recent subsidiaries, Man and Porsche, for the first time, the investment share will rise to around 6-7%.
“With investments at consistently high levels – said Bernd Osterloh, chairman of the works council – we are increasingly guaranteeing a future for the Group both in terms of products and production processes. Furthermore, the recently approved plan is a clear confirmation of the guarantees and employment levels at Volkswagen despite the difficult economic situation for the car industry”.
The plan does not include the resources destined for the joint ventures with Saic and Faw in China, because they are not fully consolidated but which should invest approximately 10 billion over the next three years.
