VW Group has pledged to spend over €4 billion ($4,68 billion) in Spain from 2015 to 2019, the largest industrial investment ever made in the country.
The money will be used to modernize the production infrastructure and to add new models.
“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,” said Dr. Francisco Javier García Sanz, Member of the Board of Management of Volkswagen AG.
The official didn’t say which new vehicles will be built in Spain, but according to the release the models “are currently under development and will be the subject of future announcements.”
VW Group’s latest investment is destined for its industrial facilities in Spain, the Volkswagen plant in Navarra and the SEAT plant in Martorell (Barcelona), which according to Dr. García Sanz “are among the best plants within the Group in terms of productivity and flexibility”.
As a result of the newly announced investment, the Spanish automotive supply industry will also benefit, both in terms of activity and employment. That’s because the automaker aims to substantially increase the supply of parts and components manufactured in Spain.
The VW Group employs around 22,000 workers in Spain distributed within different companies: SEAT, Volkswagen Navarra, Volkswagen-Audi Spain, Volkswagen Financial Services, Volkswagen Group Retail Spain, Porsche Iberica, MAN Truck & Bus, MAN Finance, MAN Diesel & Turbo, Scania Iberica, Scania Finance, Italdesign Giugiaro Barcelona and Audi Tooling Barcelona.
Last year, the SEAT plant in Martorell and the Volkswagen plant in Navarra (which builds the VW Polo) produced 748,400 vehicles, up 13.1 percent compared to the previous year. This means the VW Group manufactures one in every three vehicles produced in Spain.
Note: Facelifted Seat Ibiza pictured at the Barcelona Motor Show
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