Volkswagen to spend $40 bn on electric cars over next 5 yrs

Volkswagen has announced that it plans to spend more than $40 billion on developing electric cars, autonomous driving and other new technologies over the next 5 years. The German automaker also pledged to offer an electric version of each of its roughly 300 group models by 2030. Notably, Volkswagen group includes Audi, Porsche, Skoda along with the core Volkswagen brand.