Tags: EU | Spain | VW

Spain: VW Investments Guaranteed Despite Emission Debacle

Friday, 09 October 2015 01:20 PM

MADRID (AP) — Spain's industry minister says Volkswagen has guaranteed it will follow through with 4.2 billion euros ($4.8 billion) in investments for two auto plants despite the diesel emissions scandal that is expected to significantly hurt the carmaker's finances.

Jose Manuel Soria told Cope radio Friday that he met a day earlier with VW executives in Germany and received a pledge "that the program planned for Spain will be maintained."

VW has a plant in northeastern Catalonia that makes SEAT cars and another one in northern Navarra that makes VWs.

The Catalonia plant is scheduled to get 3.2 billion euros in investment while 1 billion euros is earmarked for the Navarra plant.

The plants provide about 22,000 jobs in a country with a jobless rate of 22 percent.

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Spain's industry minister says Volkswagen has guaranteed it will follow through with 4.2 billion euros ($4.8 billion) in investments for two auto plants despite the diesel emissions scandal that is expected to significantly hurt the carmaker's finances.Jose Manuel Soria...
EU,Spain,VW
128
2015-20-09
Friday, 09 October 2015 01:20 PM
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