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German car group Volkswagen plans to invest 1 billion euros ($1.4 billion) in Slovakia in the coming five years to boost car and car parts production, the company's Slovak unit said on Thursday.
Volkswagen, one of the biggest investors and exporters in Slovakia, has invested more than 1.7 billion euros in the euro zone country over the past 20 years, reported Reuters.
The group's Slovak assembly plant near the capital, Bratislava, produces sport utility vehicle (SUV) models Volkswagen Touareg, AUDi Q7, and parts of the Porsche Cayenne. It will launch production of a new small family car later this year.
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