· Volkswagen China joint venture will invest 22 billion euros in the next five years
The Volkswagen Group announced in Beijing on the 24th that from 2015 to 2019, the Volkswagen China joint venture will use its own funds to invest 22 billion euros to build new production facilities and develop new products.
The Volkswagen Group revealed that it will invest 85.6 billion euros in its automotive business in the next five years (2015-2019) for research and development of new models and innovative technologies as well as global operations; about two-thirds of the investment will focus on more Energy-efficient models, drive systems and environmentally friendly production.
Dr. Wen Deen, Chairman of the Board of Management of the Volkswagen Group, said: "We will continue to deepen our investment in the future and launch the best performing and most sustainable products, which will make the Group an environmentally and economically leading automotive company. In the future, as the demand for innovation continues to increase and carbon dioxide emission regulations raise higher demands on the automotive industry, vehicle development costs will remain high."
Bernard Ostello, chairman of the Volkswagen Group Labor and Capital Committee, said the investment plan shows that Volkswagen will continue to invest heavily in various regions of the world, thereby increasing investment in Volkswagen's nearly 600,000 jobs around the world. .
According to the investment plan, the Volkswagen Group will use most of the funds (a total of 41.3 billion euros, accounting for 64% of the total investment) to update and expand the product portfolio of all brands, focusing on the SUV series. In addition, based on modular technology and its related components, the investment plan will cover new and replacement models of almost all levels.
In terms of powertrain, the Volkswagen Group will introduce a new generation of engines with better performance, fuel consumption and emissions. At the same time, the Group will promote the development of hybrid and electric drive technologies.
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