Volkswagen plans to invest around 20 billion rubles in Russia

Volkswagen plans to invest around 20 billion rubles in Russia


TASS.- Volkswagen plans to invest approximately 20 billion rubles in production in Russia. The relevant statement has been made by the Minister of Industry and Commerce: Denis Manturov.

“VW has already invested more than 2 billion euros in the Russian economy in total and plans to add at least another 20 billion rubles” – Manturov said. “The entry of VW to GAZ has not been discussed within the framework of the SPIC. The current topic of discussion is the investments within the scope of the technological directions, the engines and gearboxes having the priority.”

Manturov has also stated that car component production is planned to be increased within the framework of the SPIC, which may be signed with the company in near future.

“First of all, as I’ve stated, we are talking about engines and gearboxes. Secondly, car component production is very important for us. Our colleagues are currently negotiating with their partners, who manufacture car components for VW, on their arrival and localisation of production in Russia. These are the main subjects discussed, to be followed by the preparation of the document in the form of a SPIC” – Manturov added.

The main production site of VW is at Grabtsevo Industrial Park in Kaluga. Volkswagen and Skoda vehicles are manufactured at the facility, alongside the 1.6 MPI EA211 series petrol engines. VW Tiguan, VW Polo and Skoda Rapid models are manufactured at the car plant with a maximum annual production capacity of 225,000 automobiles.