Volkswagen to Spend $100 Billion on Future Technology Over Next Five Years
09 Décembre 2021 - 3:29PM
Dow Jones News
By Kim Richters
Volkswagen AG said Thursday that it will spend 89 billion euros
($100.96 billion) over the next five years on future technologies
such as electromobility and digitization.
As part of its yearly budget update, the German car maker said
the investment on such technologies was 56% of its total
capital-expenditure plan for the period, which stands at EUR159
billion.
The German company updates its five-year investment plans every
year. Last year, it pledged to spend about EUR73 billion on the
development of electric vehicles and other new technologies.
Also on Thursday, Volkswagen confirmed that its operating margin
will reach the upper end of the target range of 6%-7.5% and
deliveries of around 9 million vehicles for 2021.
At 1355 GMT, preference shares in Volkswagen were 0.2% lower at
EUR183.94.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
December 09, 2021 09:14 ET (14:14 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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