November 10, 2017 / 4:03 PM / 9 days ago

VW says £495 million Argentina investment to create 2,500 jobs

BERLIN (Reuters) - Volkswagen (VOWG_p.DE) said plans to spend about 560 million euros (494.59 million pounds) at its Argentinian plant to build a new sport-utility vehicle will yield about 2,500 new jobs.

News of the investment at Volkswagen’s (VW) automotive terminal in Pacheco was disclosed earlier on Friday by the governor of Buenos Aires province.

The German carmaker plans to launch 20 new models in Latin America by 2020, stoking demand with a goal of returning to profit in the region by that year, it said on Friday.

Reporting by Andreas Cremer; Editing by Douglas Busvine

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