BERLIN : Volkswagen plans to invest 180 billion euros over the next five years in areas including battery production and its North American operations, it said on Tuesday, with spending on combustion engines to decline from 2025.
In the latest plan, 15 billion euros is ringfenced for battery plants and raw materials and 2 billion euros will be put toward a plant in North Carolina for its Scout brand. The investment decisions are targeted towards fulfilling a 10-point plan developed by Chief Executive Oliver Blume after he took the helm of the automaker in September.
The most likely stock market candidate is battery unit PowerCo. Reuters in November reported talks were with investors to buy into the division ahead of a possible partial listing.