VW to invest €500 million at Autoeuropa car plant over next five years

Volkswagen will invest another €500 million in its Autoeuropa plant over the next five years, one of the German directors announced at a ceremony to commemorate the 30th anniversary of the Palmela car plant on Friday.

“Over the next five years we intend to invest more than €500 million in product, equipment and infrastructure,” said Alexander Seitz, after highlighting the importance of the Autoeuropa plant for Volkswagen and Portugal.

“This plant and its team are prepared to successfully accompany the transformation of the automotive industry,” Alexander Seitz added, assuring that Volkswagen will refocus its production with the aim of leading sustainable mobility worldwide – Volkswagen Accelerate.

The President of Portugal, Marcelo Rebelo de Sousa, who presided over the ceremony, welcomed the new investment announced for the Palmela car plant and underlined the climate of understanding and collaboration that has always existed in relation to Autoeuropa, between Volkswagen officials and successive Portuguese governments.

The Prime Minister and the President today visited Volkswagen Autoeuropa, in Palmela, a year and a half after they promised they would return this year to the company in the district of Setúbal, which remains the largest foreign investment made in Portugal.

Marcelo Rebelo de Sousa and António Costa visited Autoeuropa on May 13 last year. At the time, the prime minister said there would be a new joint visit to the plant in the “first year of the next mandate of the President”, suggesting that Marcelo would run again and be re-elected, which proved to be the case.

According to the Prime Minister, in relation to Autoeuropa, “a new tradition has been established that the President and the Prime Minister visit it together”.

“We will overcome this pandemic and the economic and social effects this year, next year, in the years to come. And I will be here, and we will all be here because this is a team spirit that has been formed and that nothing will break. We will be here this year and in the coming years to build a better Portugal”, declared the Head of State.