Slovakia will receive 1 billion euros from Volkswagen

Slovakia will receive 1 billion euros from Volkswagen

The German automobile concern Volkswagen will invest in the development of its car production in Slovakia EUR 1 billion. This amount of investment is planned for the next five years.

Volkswagen is one of the biggest investors in Slovakia. Over the past 20 years the concern invested in the Slovak economy about 1.7 billion euros.

Volkswagen main plant for the car production is located not far from Bratislava. The company also operates several factories for the production of spare parts.

Volkswagen is not the only large investor, who is actively working on car market in Slovakia. To date, in the Slovak Republic are presented two more major global brands: Renault and Kia. The total volume of cars produced by the "three giants" is 800,000 -1,000,000 items per year. Among those who are interested in creating their own production facilities in Slovakia are Chinese car companies.

To date, at Volkswagen plant in Bratislava are produced such models as Touareg and the AUDI Q7. There are also produced spare parts for Porsche Cayenne. Since summer 2011 the factory plans to launch the production of a new family car - Skoda.

Information on new investment was another sign of recovering of the Volkswagen from the crisis. In early 2011 the plant in Bratislava has returned to the pre-crisis work mode. In total, in 2010 VW managed to sell 7.14 million vehicles worldwide, which is 13,5% more than in 2009.

Date: 13/02/2011