Volkswagen to invest billions in electric vehicles and efficiency

The VW Group is set to invest billions of euros in electric models and efficiency programmes in the next five years.

Revealed at a conference in Vienna, the plan would see nine billion euros spent on developing hybrid models and 10 billion invested in improving the fuel efficiency of petrol and diesel engines by 10 to 15 per cent by 2020.

This comes as the car manufacturer prepares for tighter emission regulations in important markets.

The plan also follows the firm’s multi-billion euro Strategy 2025 which will see more than 10 electrified models in the group by 2018 and more than 30 EVs by 2025.

Both measures are to improve the emissions performance across group brands in key markets such as Europe, China, and the US.