Volkswagen to invest $70.7 bn in 2011-2015

FRANKFURT: Volkswagen said Friday it planned to invest 51.6 bn euros (70.7 bn dollars) in the next four years to develop new models and attain its objective of becoming the world's top car maker by 2018.

With another 10.6 billion euros to be invested by its joint ventures in China, the German car maker aims to "expand and modernise its entire product line across all of its brands," said the German auto maker.