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VW Plans Big Investment in Spain
Volkswagen AG says it will spend €785 million over the next five years to retool its assembly plant in Pamplona, Spain, to build the next generation of its Polo supermini.
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Volkswagen AG says it will spend €785 million over the next five years to retool its assembly plant in Pamplona, Spain, to build the next generation of its Polo supermini.
The factory, which makes the current-generation Polo, has annual capacity of 300,000 vehicles and employs 4,600 people.
VW is the third automaker in recent months to announce plans to expand in Spain. Ford said October it would move work to its factory in Valencia when its facility Belgium closes next year. A month later Renault disclosed it would boost output as its assembly facility in Palencia and hire 1,300 workers there.
The Spanish government credits the recent investments to its labor reforms which include measures that make it easier for companies to hire and fire employees for increasing the country's competitiveness.
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