Volkswagen steps up South America strategy - leatherbiz: Leading news Leatherbiz

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Volkswagen steps up South America strategy

16/11/2017
Automotive brand Volkswagen has announced plans to invest €560 million over the next five years at its manufacturing plant in Pacheco, Argentina.

This investment will contribute to the modernisation of the plant in preparation for the start of production of a new SUV model there in 2020. It will be responsible for manufacturing this vehicle for the whole of South America and Volkswagen has said the project will create 2,500 new jobs. 

It is the latest phase of the company’s Transform 2025+ strategy which has seen it take steps to realign its business in global markets. This has included delegating some of the responsibilities previously held by the team at its headquarters in Germany to regional hubs, including in South America.

"We are laying the foundations for the brand's growth on international markets with Volkswagen's Transform 2025+ strategy. South America and Argentina play an important role in this regard,” explained Dr Herbert Diess, CEO of Volkswagen.

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