All the European investment, retail, real estate, office and industry news in English language

Sunday | January 17 | 2021

Volkswagen abandons investment in Turkey and expands production in Slovakia

Volkswagen will move production of its Passat model and premium Skoda Superb model to its plant in Bratislava, after initially wanting to produce the two cars in Turkey, The Slovak Spectator reported on Tuesday.

The German group’s investment will be much higher than expected by Prime Minister Igor Matovič’s government.

It is unknown whether electric vehicles will be produced in Bratislava, said another Slovak publication, Denník N.

In July, the Slovak government signed a memorandum with Volkswagen representatives, suggesting an investment of 500 million euros, but recent information indicates an investment of over one billion euros.

The amount was mentioned by Herbert Diess, Volkswagen CEO, in an interview with the German magazine Automobilwoche. He confirmed the increase in production at the plant in Slovakia.

- Advertisment -