VW to Invest €50 Billion Through 2015

Volkswagen AG will spend €50.2 billion on plants, new vehicles and research over the next three years, according to the company's latest short-term business plan.

Nearly half the investment will go to developing new models for its passenger car and commercial truck brands. More than half VW's spending on factories and tooling will be in Germany. The company says R&D spending will focus on "green" technologies.

The spending total does not include VW's €9.8 billion investment through 2015 in its joint ventures in China. The company and its partners are building four new factories in China, which are financed by the venture's operations.

Historically, VW set five-year plans. But the uncertainty caused by the auto slowdown in 2009 has caused the company to focus on a shorter timetable.