VW spending nearly $85 billion total on electric and self-driving cars

WOLFSBURG, Germany — Volkswagen’s leaders on Friday approved a five-year spending plan that aims to further the German automaker’s goal of transforming itself into a leading force in electric cars. Europe’s largest carmaker by unit sales will spend more than 34 billion euros ($40 billion) on electric cars, autonomous driving and new mobility services by the end of 2022, it said on Friday following a supervisory board meeting.