German auto manufacturer Volkswagen is sick of sucking the exhaust of the world’s auto industry leaders and is throwing a $71 billion-sized brick on the gas pedal to try to take the lead.
Automotive News reports Volkswagen will spend $38 billion of the massive figure on research and development of each of its brands, which include Audi and Bentley Motors.
A Wikipedia table says Volkswagen is currently the world’s third largest automobile producer and seller, behind Toyota and General Motors.
So what does the massive investment mean to us? Jobs, for one thing. Volkswagen plans to open a new plant in the United States, as well as two in China.
Volkswagen commits $71B on mission to become world’s #1 [Automotive news via Left Lane News]