BERLIN, March 14 (Reuters) - Volkswagen will
invest 180 billion euros ($192.76 billion) in the next five
years into areas including battery cell production,
digitalisation in China and expanding its presence in North
America, the carmaker said on Tuesday.
Over two-thirds of the five-year investment budget is
allocated towards electrification and digitalisation, up from
56% in the previous five-year plan, with 15 billion euros of
that ringfenced for battery plants and raw materials.
Investment in combustion engine technology will peak in 2025
and decline from then on, the carmaker said, as it works towards
its target of 50% all-electric sales globally by 2030.
($1 = 0.9338 euros)
(Reporting by Victoria Waldersee, Editing by Rachel More)
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