Volkswagen to Double Investment in Slovakia in Five Years

Feb. 10, 2011
Will launch production of its new small family car line at its Bratislava plant this year

Volkswagen said on Feb. 10 that it would double its investment in Slovakia to a billion euros (US$1.36 billion) in the next five years.

Andreas Tostmann, head of VW Slovakia said the company would "focus on new technologies, boost production at its car plant in Bratislava and components plant in Martin," northern Slovakia.

Volkswagen said earlier it expected to launch production of its new small family car line at its Bratislava plant this year.

The company's output in Slovakia fell by 44% in 2009 due to low demand for expensive SUV models produced here amid the global economic slump.

But as the economy recovered in 2010, Volkswagen increased output over the first six months by 43% compared to the previous year.

The figures for the whole of 2010 are expected early in March.

Volkswagen Slovakia, which began production in 1991, exports nearly all its output, mostly to Germany and China.

Copyright Agence France-Presse, 2011

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