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855 views November 28, 2007

Volkswagen investing €9.5 billion by 2010

Volkswagen will be going on a huge spending spree in coming years to help reach its target of ten million vehicle sales by 2018. Already we’ve reported about the carmaker’s strategy to reduce its vehicle architectures to four main platforms, and now we have news of a €9.5 billion investment plan though until 2010.

For the entire VW Group, close to €28.9 billion will be spent in the coming three years. This covers brands such as Skoda, Bugatti, Lamborghini, Bentley, Seat and Audi as well as VW.

Of the total investment fund, €3 billion will be spent on new products while a large majority will go to the carmaker’s five main western German assembly and component plants, reports Automotive News.

“The volume of investment results from the 2006 collective bargaining agreement, under which the company gave specific product and capacity commitments to the workforce in return for an increase in working hours without more pay,” VW’s labor boss Bernd Wehlauer said in a statement.