SEAT has revealed that it is going to spend €3.3 billion ($3.68 million) on equipment, facilities and R&D between 2015 and 2019 to support the launch four new models over the next two years.
The announcement was made by SEAT Executive Committee President Jürgen Stackmann during the visit to the company’s facilities in Martorell by Spanish Prime Minister Mariano Rajoy, on the occasion of the 40th anniversary of the SEAT Technical Centre.
Stackmann said that the investment is earmarked for “promoting new vehicle development R&D projects at the SEAT Technical Centre as well as equipment and facilities in the Martorell factory”.
The largest ever investment announced by SEAT for new models will go towards launching four new vehicles in the next two years. “These models are part of an ambitious plan to continue to strengthen the brand and boost sales, which have been growing consistently since 2013. The spending on innovation ensures competitiveness and employment, and secures the future,” Stackmann said.
The first of the four new models will be a compact SUV, the first ever SUV to be built by SEAT. Previewed by the 20V20 Concept, the new model will reach the dealerships during the first half of next year.
The €3.3 billion investment is part of the amount announced by the Volkswagen Group last May. SEAT is the only carmaker which has the capacity to design and develop vehicles in Spain, thanks to its own Technical Centre. During the last five years, the company has spent €1.4 billion on R&D.
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