Volkswagen has announced plans to invest €4.2 ($4.6 / £3.0) billion into their operations in Spain.
Volkswagen has announced plans to invest €4.2 ($4.6 / £3.0) billion into their operations in Spain through 2019.
The infusion represents the "largest industrial investment ever made" in Spain and will be used to create new infrastructure and models. Volkswagen was coy on specifics but confirmed the money will go to their industrial facilities in Spain, the Volkswagen plant in Navarra and to SEAT.
There's no word on what new models we can expect but Volkswagen said they are currently under development and will be the subject of future announcements.
In a statement, Volkswagen AG Board of Management member Dr. Francisco Javier García Sanz said “Spain is a key country within the Volkswagen Group’s strategy, this project is a guarantee for the future of the Group facilities in Spain, which are preparing themselves for the assignment of new models."