Volkswagen plans to invest 160 billion euros in the next five years.

Oliver Blume, CEO of Volkswagen Group, stated in an interview on Saturday that the company plans to invest 160 billion euros by 2030. This reflects that the top European automaker is taking austerity measures. The total expenditure figure will be updated annually based on Volkswagen's five-year rolling investment plan. The previously announced spending plan for 2025-2029 is 165 billion euros, and for 2024-2028 it is 180 billion euros, with 2024 being considered a peak year. Since then, Volkswagen Group, including Porsche and Audi, has been squeezed by US tariffs and intense competition in China, severely impacting its profits, especially for the Porsche brand, which sells about half of its cars to these two markets. Blume stated that the latest five-year spending plan focuses on "Germany and Europe," covering areas such as products, technology, and infrastructure.