Volkswagen invested €60 million in Slovakia in 2005

THROUGH its Volkswagen Slovakia affiliate, the VW German car producer has invested €1.3 billion (Sk48.8 billion) over 15 years in Slovakia, of which €60 million (Sk2.3 billion) was invested last year.

In 2005 the money went into a new body shop and equipment for production of the Audi Q7 model, which was the biggest investment in the last two years, the Pravda daily wrote.

Thomas Schmall, the head of VW Slovakia, told the SITA news agency that investments in 2006 would be much lower than last year because the company would not introduce new models sooner than in 2007 and 2008.

In the same period the company intends to introduce a remake of its Touareg model, which is also made in the Slovak plant. Another bigger investment will be directed towards production of the Polo in 2009, Schmall said.

This year VW plans average production of 240,000 cars in Slovakia, up from 218,000 in 2005.

Compiled by Martina Jurinová from press reports
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