Spain: VW investments guaranteed despite emission debacle
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.