Volkswagen to step up automotive investments

Newswire

FRANKFURT, Nov 16 (Reuters) - Volkswagen will increase investment in plants and equipment to an average of around 6 percent of sales in the 2008-2010 planning period, Europe's biggest carmaker said on Friday. This spending will total 20.9 billion euros ($30.5 billion) during that period, it said in a statement, and more than half will be spent in Germany. It plans to invest around 28.9 billion euros overall in its auto business over the next three years, including activated development ...

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