Dhaka, March 14 -- Volkswagen plans to invest 180 billion euros ($192.76 billion) over the next five years in areas including battery production and its North American operations, it said on Tuesday, with spending on combustion engines to fall from 2025.

As it works toward a target of 50 per cent electric vehicle (EV) sales globally by 2030, over two-thirds of the five-year investment budget is allocated towards electrification and digitalisation, up from 56 per cent in a five-year plan it had released a year earlier, reports Reuters.

The car maker is expected to provide an update later on Tuesday on how it will improve operations at its software unit Cariad, which was set up under former Chief Executive Herbert Diess but has gone over ...