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Most of that sum, around 14 billion euros, will be spent in
Germany, Volkswagen said, adding that one of the key measures
included a 1 billion euro injection to transform the carmaker's
Zwickau plant into a pure e-mobility facility.
"The investment package which has now been adopted will give a
decisive boost to the largest product and technology offensive
in the history of the brand," Herbert Diess, Chief Executive of
the Volkswagen brand and a VW management board member, said.
Analysts see reviving the VW brand, which has long suffered from
high staff and development costs, as crucial to the group's
ability to recover from a diesel emissions scandal that has
gripped the carmaker.
The investments unveiled on Saturday are part of Volkswagen's 72
billion euro spending plan for the 2018-2022 period that was
announced on Friday.
($1 = 0.8480 euros)
(Reporting by Christoph Steitz and Jan Schwartz; Editing by Hugh
Lawson)
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