Volkswagen Group will keep pouring money into new vehicles, technology and factories as it chases Toyota for the lead as world’s largest automaker.
VW plans to invest €85.6 billion ($106 billion) over the next five years, the company said Friday. The plan calls for an increase in average annual spending on auto operations to about €17.1 billion a year, compared with €16.8 billion under its previous rolling five-year budget.
The United States will be the biggest market for the new Mercedes-AMG GT and is expected to account for 25 percent of the car’s worldwide volume.
Mitsubishi gave the Mitsubishi Concept XR-PHEV plug-in hybrid its North American debut at the 2014 Los Angeles Auto Show. Mitsubishi said that the Concept XR-PHEV crossover hints at its future design direction for production vehicles in North America and further reaffirms the automaker’s commitment to the US market.
