Share Name Share Symbol Market Type
Volkswagen AG XE:VOW3 XETRA Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.22 -0.13% 174.94 175.20 175.24 176.66 174.32 175.24 530,821 16:35:10

Volkswagen to Spend EUR60 Billion on Future Technologies Over Next Five Years

15/11/2019 1:05pm

Dow Jones News

Volkswagen (XE:VOW3)
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   By Max Bernhard 

Volkswagen AG (VOW.XE) said Friday that it plans further ramp up spending on electric and hybrid vehicles and digitalization, earmarking investments of about 60 billion euros ($66.04 billion) for the next five years.

The German car maker said about EUR33 billion of the total is for electric mobility alone, with the rest to be spent on hybrid vehicle technology and digitalization.

The EUR60 billion figure represents more than 40% of the company's investments in property, plant and equipment and all research and development costs during the planning period.

"Hybridization, electrification and digitalization of our fleet are becoming an increasingly important area of focus. We intend to take advantage of economies of scale and achieve maximum synergies," said Chief Executive Herbert Diess.

The company is also working on increasing its productivity, efficiency and cost base in light of the worsening economic situation, he added.


Write to Max Bernhard at


(END) Dow Jones Newswires

November 15, 2019 07:50 ET (12:50 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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