Volkswagen: to invest 22.8 billion euros in plants.

(CercleFinance.com) - Volkswagen said that it will spend 22.
8 billion euros over the next five years on its plants to boost its current product and technology offensive.

Out of this amount, approximately 14 billion euros will be invested in German plants from 2018 to 2022 as part of the brand's "Transform 2025+" strategy, the carmaker said.

One of the key measures will be the transformation of the Zwickau plant, wich is found in Eastern Germany, into a pure e-mobility facility, with an investment volume of about one billion euros.

VW plans to launch the Volkswagen I.D., the first vehicle in the new generation of electric automobiles, in 2020.

At least 1 million Volkswagen electric cars are planned for 2025, the group said.

Copyright (c) 2017 CercleFinance.com. All rights reserved.