Already aiming to take the lead in global sales, Volkswagen AG also wants to be the industry’s technology leader, CEO Martin Winterkorn declared during a Geneva Motor Show news conference, and he says the company is ready to back that up with hard cash.
VW invested €11.5 billion, or nearly $13 billion in its “Future Tracks” program last year, a pace of research and development that it apparently has no plans to slow down. The maker is offering up a number of examples of where that money went this week during a series of product debuts at the annual Geneva show from each of its more than a dozen different brands.
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“Volkswagen is an innovation think tank,” proclaimed Winterkorn during a Monday night news conference ahead of the opening of the Geneva show. “We develop technologies that point the way well into the future.”