MAN Investing €2.4 Billion to Upgrade Factories

Volkswagen AG’s MAN Truck & Bus unit is spending €2.4 billion ($2.8 billion) through 2020 to update its factories in Africa, Asia and Europe.

Nearly early half the total will be invested at MAN headquarters in Munich to expand r&d facilities and add an advanced, 18,000 sq meter (193,800 sq ft) paint shop for heavy-duty truck cabs. The company makes commercial trucks and/or buses in Austria, Germany, India, Russia, South Africa and Turkey.

Reuters says the company also is spending some €500 million on electrification programs, including battery-powered buses that will reach the market in 2018.