Volkswagen has outlined its plan for global domination. The company's roster of nine brands - including Audi, Skoda, Seat and Bentley - faces an uphill scrap against giants General Motors and Toyota, the present industry kings, as it seeks to become the world's top manufacturer.
Its grand plan will
see a whopping 62.4 billion ($105.75 billion) investment - the equivalent of four million base-model Polos - which has already been approved by the 20-member board of the parent company.
Chief executive Martin Winterkorn made the bold ambition very clear following the board's approval.
"The Volkswagen Group is investing a record amount in forward-looking projects to achieve its goal of becoming the world's best automobile manufacturer," he said. "Top of the agenda for us are investments in environmentally friendly, sustainable models and drives."
The money will be split between upgrading plants, new vehicles and R&D between 2012 and 2016.
