Volkswagen plans to invest some €31 billion between 2002 and 2006, the car maker announced today.
The cash, approved by the VW's supervisory board, would be invested mainly in expanding and updating VW's range of models, the car maker said in a statement.
Furthermore, VW said it would be carving up the its brands into two separate entities, one combining the "sporty" Audi, Seat and Lamborghini models and the other comprising the "classic" VW, Skoda, Bentley and Bugatti models.
The supervisory board also rubber-stamped a number of changes on its management board, including the departure of the head of its top-of-the-range Audi unit, Mr Franz-Josef Paefgen.
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AFP