Volkswagen's Core Brand Unveils Investment Plan

Volkswagen said Tuesday its core brand plans to invest 9.5 billion euros ($14.1 billion) over the next three years in new products, plants and production capacity.

The Volkswagen Passenger Cars unit will invest more than half the money, 6.5 billion euros ($9.6 billion), in new products, a company statement said.

Another 1.7 billion euros ($2.5 billion) will go into "new production structures," such as new plants in India and Russia and a paint shop in Pamplona, Spain, it added.

VW said it would invest 479 million euros ($711 million) at its main German site in Wolfsburg, with money also going to several other German plants and to Volkswagen Slovakia.

"These investments in our plants safeguard employment," said the deputy head of VW's employee council, Bernd Wehlauer.

Volkswagen shares slipped 1.9 percent at 156.25 euros ($231.91) in Frankfurt.