Volkswagen Group to invest 4.2 Billion Euros. in it's Spanish plants over the next five years.

The Volkswagen Group will spend EUR 4.2 billion in Spain from 2015 to 2019, which represents the largest industrial investment ever made in the country and is destined for infrastructures and new models. 

During a meeting at the Moncloa Palace, Dr. Francisco Javier García Sanz, Member of the Board of Management of Volkswagen AG, announced this investment to the President of the Spanish Government, Mariano Rajoy.

“The Volkswagen Group reaffirms its commitment as a driver of the Spanish economy with the largest industrial investment ever made in the history of our country”, underlined García Sanz after expressing his gratitude to President Rajoy for the strong support of the Government in the automotive sector.

“Spain is a key country within the Volkswagen Group’s strategy”, added Dr. García Sanz, who highlighted that “this project is a guarantee for the future of the Group facilities in Spain, which are preparing themselves for the assignment of new models”. 

The models to be manufactured are currently under development and will be the subject of future announcements.

This latest investment of the largest car manufacturer in Europe is destined for the company´s industrial facilities in Spain, the Volkswagen plant in Navarra and to SEAT in Martorell (Barcelona), that according to Dr. García Sanz, “are among the best plants within the Group in terms of productivity and flexibility”.

This new investment of the Volkswagen Group not only guarantees the future of its facilities in Spain, but will also have a very positive impact on the Spanish automotive supply industry, both in terms of activity and employment. Through this investment, the Group will substantially increase the supply of parts and components manufactured in Spain.

The Volkswagen Group has a significant presence in Spain, where it employs around 22,000 workers 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.

In 2014, the sales revenue of the Volkswagen Group companies in Spain rose to €13.8 billion, which equals 1.3 percent of the total Spanish GDP.

Last year, deliveries from all the Volkswagen Group brands in the Spanish market exceeded 216,250 vehicles, of which over 200,000 were passenger cars. Thus, one of every four passenger or off-road vehicles registered in Spain in 2014 came from within the Volkswagen Group.

On an industrial level, the SEAT plant in Martorell (Barcelona) and the Volkswagen plant in Navarra produced a total of 748,400 vehicles in 2014, growing 13.1 percent compared to the previous year. The Volkswagen Group manufactures one in every three vehicles produced in Spain.

The Volkswagen Group, with headquarters in the German city of Wolfsburg, is the largest car manufacturer in Europe. Its global deliveries exceeded 10 million vehicles in 2014, four years ahead of its initial target, while its sales revenue exceeded €200 billion.

The corporation includes the Volkswagen, Audi, SEAT, ŠKODA, Bentley, Bugatti, Lamborghini, Porsche, Volkswagen Commercial Vehicles, Ducati, Scania and MAN brands. In addition, the Volkswagen Group offers a wide range of financial services, including dealer and customer financing, leasing, banking and insurance activities, and fleet management. The Volkswagen Group has 118 production plants and 592,000 employees worldwide. - See more at: http://www.seat-mediacenter.com/en-stories/corporate/volkswagen-group-will-spend-eur-4-2-billion-in-spain-from-2015-to-2019/?v=t&p=1&overview=0&overview=1#sthash.CcpoEQD6.dpuf