Volkswagen to invest 1bn euros into Slovak plant

PRAGUE: Volkswagen plans to invest 1 billion euros ($1.18 billion) into its Slovak plant, including 500 million euros to produce next-generation Passat and Skoda Superb models, VW Slovakia Chairman Oliver Gruenberg said on Monday.

The investment will go into projects across the model range made in Slovakia and will create 2,000 jobs in the coming years, company officials said.