October 16, 2007 / 5:00 PM / 11 years ago

Volkswagen to invest 223 million euros in Argentina

FRANKFURT, Oct 16 (Reuters) - Volkswagen (VOWG.DE), Europe’s biggest carmaker, plans to invest 223 million euros ($316.7 million) in Pacheco in Argentina to produce a new pick up truck at its commercial vehicles unit.

“With the model, Volkswagen wants to achieve success in a further market segment,” the company said in a statement.

At its Pacheco plant, Volkswagen Argentina produces the models Caddy 2, Polo Classic and Suran; engines are also assembled there. Transmissions are produced at Cordoba.

((Reporting by Rajiv Sekhri, Editing by Elaine Hardcastle; Frankfurt Newsroom; Reuters messaging: rajiv.sekhri.reuters.com@reuters.net; +49 69 7565 1244))

($1=.7040 Euro) Keywords: VOLKSWAGEN ARGENTINA

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