October 27, 2016 / 11:07 AM / 2 years ago

Volkswagen invests 150 million euros in new logistics center in Slovakia

BRATISLAVA (Reuters) - German carmaker Volkswagen(VOWG_p.DE) will invest 150 million euros ($163.67 million) to build a logistics center near its assembly plant in Bratislava, Slovakia, the company said on Thursday.

A Volkswagen logo is pictured at the newly opened Volkswagen factory in Wrzesnia near Poznan, Poland September 9, 2016. German car manufacture company officially open factory in Wrzesnia on October 24, 2016. REUTERS/Kacper Pempel

The logistics center will be opened in 2017 and an external partner will run it, the company said.

Volkswagen exports almost all of the vehicles it makes in the Slovak factory. It produces Volkswagen Touareg, Audi Q7, Volkswagen up!, Volkswagen e-up!, SEAT Mii, SKODA Citigo and bodies for Porsche Cayenne at its Slovak plant. It will also launch a Porsche Cayenne assembly line next year.

Slovakia, the world’s biggest per-capita car producer, is also home to Kia (000270.KS) and Peugeot Citroen (PEUP.PA) plants and a new Jaguar Land Rover [TAMOJL.UL] plant is expected to come online in 2018.

Reporting by Tatiana Jancarikova; editing by Susan Thomas

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