Volkswagen has announced it is to invest €85 bn in its operations over the next five years.
The company will focus on foreign expansion, new models and advanced technology.
The car maker claims the bulk of the investment will go into increasingly efficient vehicles and greener production methods.
Martin Winterkorn, Volkswagen CEO made the announcement:
“Two thirds of our total investment will go into more efficient vehicles, new models, technologies and with a focus on more environmentally friendly production methods. We are expanding our technological lead and will make sure we comply with the laws on carbon dioxide emissions.”
Around €41 bn of the money will go into developing sports utility vehicles, hybrid and electric cars.
As it spends it saves, VW is currently engaged in an efficiency programme, designed to save €5 bn by 2018.