Volkswagen plans $70.3 billion investment in new models

The Volkswagen Group is set to sink €51.6 billion ($US70.3 billion) into its automotive operations over the next five years as part of a long term goal to overhaul Toyota as the world’s largest car maker by 2018.
According to Volkswagen €27.7 billion ($US37.7 billion) is earmarked for new, successor and derivative models in all segments and throughout its extensive portfolio of brands, which includes Volkswagen, Audi, Seat, Skoda, Bentley, Lamborghini and Bugatti.
Speculation also exists that it could up its 20 per cent stake in Suzuki and make a pitch for Alfa Romeo, following comments from the head of its supervisory board, Ferdinand Piech, at the Paris auto show indicating Volkswagen’s keen interest in the struggling Italian car maker.
To help it achieve its goal of increasing sales beyond those of Toyota, Volkswagen has developed a new modular platform strategy set to be implemented with the launch of the third generation Audi A3 in 2012. It will be the first model to sit on Volkswagen’s new MQB platform that’s set to underpin up to 60 different models over time.
The German car making giant also said it plans to launch a new generation of engines with enhanced performance, fuel consumption and emission levels. A new gasoline-electric hybrid system, planned to be launched on the Jetta in 2011, will also be used throughout the Volkswagen Group line-up, as will a pure electric system previewed on the Golf Blue e-Motion.
VW Group boss Martin Winterkorn said: “The Volkswagen Group will help shape the technological turning point in key areas of the automotive industry and, to do this, will continue investing in environmentally friendly technologies, efficient drives and new models.”