Visitors crowd the booth of German car maker Volkswagen at the International Motor Show IAA in Frankfurt, Germany this week.

German auto giant Volkswagen unveiled yesterday a gigantic €76.4bn ($98bn) investment programme as part of its ambition to become the world’s biggest car maker by 2018.

The sum represents total investment between 2012 and 2016, with the German group accounting for €62.4bn and its joint ventures in China for the rest, VW said in a statement.

The cash has been earmarked for investment in new models, new production plants and environmentally friendly technologies. 

Gulf Times