Volkswagen group invests in subsidiary in Portugal

9 October 2013

German auto group Volkswagen plans to invest 38 million euros in its Portuguese subsidiary Autoeuropa, as part of a contract signed by the group’s board of directors and the Portuguese Foreign Trade and Investment Agency (AICEP).

The investment will be used by a number of sectors within the company, such as paintwork, moulds and dies and information technology.

Portuguese Economy Minister António Pires de Lima, said that this was an important investment as Volkswagen Autoeuropa was a benchmark in Portugal, as well as being the country’s biggest exporter.

Despite this investment, Autoeuropa has been waiting to be granted a new model of vehicle to assemble allowing the factory, which both directly and indirectly gives work to 3,000 people, to stay open. (macauhub)