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Volkswagen says core VW brand will invest US$14.1B over three years in products, capacity

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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.

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Volkswagen says core VW brand will invest US$14.1B over three years in products, capacity
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