Most of that sum, around 14 billion euros, will be spent in Germany, Volkswagen said, adding that one of the key measures included a 1 billion euro injection to transform the carmaker's Zwickau plant into a pure e-mobility facility.
"The investment package which has now been adopted will give a decisive boost to the largest product and technology offensive in the history of the brand," Herbert Diess, Chief Executive of the Volkswagen brand and a VW management board member, said.Analysts see reviving the VW brand, which has long suffered from high staff and development costs, as crucial to the group's ability to recover from a diesel emissions scandal that has gripped the carmaker. [nL8N1N51ST]The investments unveiled on Saturday are part of Volkswagen's 72 billion euro spending plan for the 2018-2022 period that was announced on Friday. [nL8N1NN3IV] ($1 = 0.8480 euros) (Reporting by Christoph Steitz and Jan Schwartz; Editing by Hugh Lawson)