AppId is over the quota
AppId is over the quota
By AutoObserver Staff September 16, 2011
The supervisory board of Germany’s Volkswagen Group approved an $86-billion, 5-year spending program for product development, assembly-plant upgrades and research and development, the company said in a statement today. The amount does not include expansion of VW’s joint ventures in China, where the company plans to spend almost another $20 billion through 2016 as the company accelerates towards its goal of becoming the world’s largest automaker by 2018.
Volkswagen currently has 62 plants globally and the VW brand alone produces more than 60 different models. The company plans to expand the model lines of its Skoda, Seat, Lamborghini and Bentley brands, as well, although a protracted effort to absorb sports car maker Porsche has encountered a raft of legal impediments and has been delayed. Although VW is expanding operations in many world regions, including the U.S., the company said more than half of the money in the new spending program will be invested in Germany.
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