Volkswagen to invest one billion euros in Slovakia plant

Volkswagen's investment will be in projects across the model range made in Slovakia and will create 2,000 jobs in the coming years.
By :
| Updated on: 17 Nov 2020, 10:36 AM
File photo of Volkswagen logo (REUTERS)
File photo of Volkswagen logo (REUTERS)
File photo of Volkswagen logo (REUTERS)
File photo of Volkswagen logo

Volkswagen plans to invest 1 billion euros ($1.18 billion) in its Slovak plant, including 500 million euros to produce next-generation Passat and Skoda Superb models, VW Slovakia Chairman Oliver Gruenberg said on Monday.

The German carmaker's investment will be in projects across the model range made in Slovakia and will create 2,000 jobs in the coming years, personnel chief Sebastian Krapoth said.

Similar Cars

Find More Cars
Volkswagen Polo (HT Auto photo)
Volkswagen Polo
999 cc | Petrol | Manual | 17.74 kmpl
₹5.83 - 10 Lakhs**Ex-showroom price
Volkswagen Virtus (HT Auto photo)
UPCOMING
Volkswagen Virtus
1984 cc | Petrol | Manual
₹ 9 - 12 Lakhs* *Expected Price
Volkswagen Vento (HT Auto photo)
Volkswagen Vento
999 cc | Petrol | Manual | 17.69 kmpl
₹10 - 14.1 Lakhs**Ex-showroom price
Volkswagen Taigun (HT Auto photo)
Volkswagen Taigun
999 cc | Petrol | Manual | 18.1 kmpl
₹10.49 - 17.5 Lakhs**Ex-showroom price
Volkswagen T-roc (HT Auto photo)
Volkswagen T-roc
1498 cc | Petrol | Automatic (Dual Clutch) | 17.85 kmpl
₹21.35 - 21.35 Lakhs**Ex-showroom price

The auto industry, led by Volkswagen and three other car makers, is the backbone of Slovakia's manufacturing and export sectors.

Skoda had announced on Friday that production of its higher-end model, Superb, would move to Slovakia. The Superb and Passat share the same platform and many parts.

(Also read | Volkswagen's Electrify America rolls out 'Plug&Charge' payment feature)

That followed cancellation of plans to source production in Turkey. It also upset unions at Volkswagen's Czech unit, Skoda Auto, home to the Superb brand over the past two decades.

"Total investments for Bratislava are being planned in the range of 1 billion euros," Gruenberg told a news conference broadcast live on television. "It is an investment across the entire model range at Volkswagen Slovakia."

He said the plan will not add overall production capacity at the plant, which made 377,750 cars last year. The plant, which mostly produced top-end models such as the Audi Q7 and Porsche Cayenne, exports more than 99% of its output.

First Published Date: 17 Nov 2020, 10:36 AM IST
TAGS: Volkswagen VW
Recommended For You
View All
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking VIEW OFFERS you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city