VW has issued a press release telling us how much money it is investing in itself, and the figures are eye-wateringly huge.
Yes, eighty four billion euros. That's £70,000,000,000. Lots of noughts.
Investment in property, plant and equipment in the Automotive Division amounts to €63.4 billion. The company is also spending €19.5 billion on capitalised development costs (whatever the hell that is (I looked it up and was none the wiser)) and €1.3 billion on financial assets.
65% of the amount to be spent on property, plant and equipment will go on new models and power trains with most models being replaced before 2018, and new power trains being introduced, with a focus on hybrid and electric motors.
That there is an almighty amount of expenditure. Expect lots of new Volkswagens, Seats, Porsche, Skodas, Audis, Lamborghinis, Bentleys and Ducatis over the coming years.
Article by Matt Hubbard
