Pursuits
VW Shortens Investment-Plan Horizon on Europe Uncertainty
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Volkswagen AG, Europe’s biggest carmaker, will spend 50.2 billion euros ($64.3 billion) in its automotive division through 2015, shortening its investment calendar from the usual five years as the region’s market uncertainty makes long-term planning more difficult.
The supervisory board today approved the funding, which is for plants, vehicles and research and development, the Wolfsburg, Germany-based company said in a statement. VW’s Chinese joint ventures, which are not consolidated, will invest another 9.8 billion euros during that time period.