November 10, 2017 / 4:17 PM / a year ago

Volkswagen says 560 million euros Argentina investment to create 2,500 jobs

BERLIN (Reuters) - Volkswagen (VOWG_p.DE) said plans to spend about 560 million euros ($654 million) at its Argentinian plant to build a new sport-utility vehicle will yield about 2,500 new jobs.

A VW logo is seen in front of the main building of the Volkswagen brand at the Volkswagen headquarters, in Wolfsburg, Germany May 19, 2017. REUTERS/Fabian Bimmer

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.

($1 = 0.8568 euros)

Reporting by Andreas Cremer; Editing by Douglas Busvine

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