Volkswagen Group CEO Oliver Blum said in an interview on Saturday that the company plans to invest 160 billion euros by 2030. This reflects the austerity measures being taken by the top European automaker. The total expenditure figures are updated every year according to VW's five-year rolling investment plan. The previously announced spending plan for 2025 to 2029 is 165 billion euros, and the 2024-2028 expenditure plan is 180 billion euros, while 2024 is considered the peak year. Since then, the Volkswagen Group, which includes Porsche and Audi, has been doubly squeezed by US tariffs and fierce competition in China, and its profits have been seriously affected, particularly on the Porsche brand, which sells about half of its cars in these two markets. Blum said that the latest five-year spending plan focuses on “Germany and Europe,” covering products, technology, and infrastructure.

Volkswagen Group CEO Oliver Blum said in an interview on Saturday that the company plans to invest 160 billion euros by 2030. This reflects the austerity measures being taken by the top European automaker. The total expenditure figures are updated every year according to VW's five-year rolling investment plan. The previously announced spending plan for 2025 to 2029 is 165 billion euros, and the 2024-2028 expenditure plan is 180 billion euros, while 2024 is considered the peak year. Since then, the Volkswagen Group, which includes Porsche and Audi, has been doubly squeezed by US tariffs and fierce competition in China, and its profits have been seriously affected, particularly on the Porsche brand, which sells about half of its cars in these two markets. Blum said that the latest five-year spending plan focuses on “Germany and Europe,” covering products, technology, and infrastructure.