Frankfurt, Germany (AHN) – Volkswagen AG saw its profits more than double to $ 21.2 billion last year compared to $ 9.7 billion the year before, the company reported Friday.
In addition, the automaker’s operating profit soared by 58 percent to $ 15.1 billion, while its revenue rose by 26 percent to $ 213.7 billion.
The carmaker delivered more than 8.2 million vehicles, an increase of nearly 15 percent from the 2010.
Volkswagen says it plans to become the world’s largest carmaker, in terms of both sales and profits, by 2018.
To get there, company officials say they plan to spend $ 83 billion on building new plants and on conducting research and development to develop new models over the next five years. In addition, it plans to hire 50,000 more workers over the next six years.
Moreover, the company has developed a new platform to serve as the base for its small and large cars to streamline the process.
Category: Manufacturing And Engineering
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