First, the alliance with Suzuki faced a "breakup" crisis, and then it was reported that the merger with Porsche was forced to delay the merger. Finally, there was good news. Recently, the Volkswagen Group said that after discussion and approval by the board of supervisors, it is determined that it will invest 62.4 billion euros in the automotive business in the next five years, mainly for the development of new models and environmental protection technologies, and the construction of production facilities. This is also the largest investment plan in the history of Volkswagen Group, striving to surpass competitors Toyota and GM by 2018 and become the world's largest car company.
Focus on the development of environmentally friendly vehicle technology
It is reported that the investment was submitted to the group's board of supervisors on September 16 for discussion and approval. In the next five years (2012 to 2016), Volkswagen Group's capital expenditures will continue to remain at 6% of sales revenue. Among them, 32.7 billion euros of the total investment was used for the automotive business, including property, plant and equipment, which accounted for the largest share of Volkswagen's huge investment.
Volkswagen stated that its investment in the automotive business focuses on the development of various new models and replacement models. Through the strengthening of modular technology and related components, Volkswagen is able to continuously and systematically launch new products and develop new markets; and will launch performance , A new generation of engines with better fuel consumption and emissions, while advancing the development of hybrid and electric drive technologies.
"In order to achieve the goal of becoming the world's leading automotive company in both economic and environmental protection, the Volkswagen Group will invest in many forward-looking projects and the scale will set the group's historical record. This investment will be used to develop sustainable development The drive system and environmentally friendly models will further consolidate the Group's leading position in technology and innovation, "said Wen Deen, Chairman of the Volkswagen Group Management Board.
More than 50% of investments are aimed at Germany
According to Volkswagen ’s official statement, 49.8 billion euros of the total investment will be used for property, plant and equipment, more than half of which will be concentrated in Germany. Wendern believes that the Volkswagen Group's large-scale investment in Germany will help maintain Germany's leading position in the global automobile manufacturing field and international competitiveness.
In addition to increasing investment in the domestic market, the public also wants to accelerate development in other countries. It is reported that the investment announced by the public does not include the 14 billion yuan investment in the joint venture in China. The investment will be financed by Shanghai Volkswagen and FAW Volkswagen, and will be used to build new production facilities and develop new products.
Volkswagen said earlier that it plans to double China's production capacity from 2013 to 2014 to 3 million vehicles, and build new factories in Foshan and Yizheng, respectively.
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