Volkswagen AG, Europe's biggest automaker, said Tuesday
its core car brand plans to invest $14.1 billion over the next three
years in new products, plants and production capacity.
The Volkswagen Passenger Cars unit will invest more than half the
money _ 6.5 billion euros ($9.6 billion) _ in new products, a
company statement said.
Another 1.7 billion euros ($2.5 billion) will go into new
production structures, such as new plants in India and Russia and a
paint shop in Pamplona, Spain, it said.
VW said it would invest 479 million euros ($711 million) at its
main German site in Wolfsburg, with money also going to several
other German plants and to Volkswagen Slovakia.
``These investments in our plants safeguard employment,'' said
the deputy head of VW's employee council, Bernd Wehlauer.