Big spender Volkswagen pours money into its hunt for #1 Toyota

Jay Leno testet den neuen Volkswagen Beetle

Stepping up the pace in its quest for world domination, Volkswagen will pour €85.6 billion ($106 billion) into “new models, technologies and production facilities in the coming five years,” the Wolfsburg carmaker said today in a press release. VW also made no bones of its objective “to become the leading automotive group in both ecological and economic terms.”

Volkswagen announced years ago its intention to become the world’s largest, greenest, and most profitable carmaker by 2018. The world’s largest already is within reach, also because world leader Toyota stubbornly refuses to grow. In a strategy completely opposed to that of VW, Toyota has announced again and again that it won’t build new car factories until 2016 at least. [Continue Reading]