Volkswagen invests in Slovakia

"We will focus on new production technologies and increasing car production in the Bratislava assembly plant and car-parts production in the Martin factory,” said Slovak unit CEO Andreas Tostmann.

The company has already invested more than €1.7 billion in the Euro zone countries over the last few years, according to Reuters.

The Slovak plant, which is situated near Bratislava, produces SUV models including the Volkswagen Touareg, Audi Q7, and parts of the Porsche Cayenne. It is going to launch production of a new small family car later this year. VW produced 106,000 cars in Slovakia in 2009, down from 188,000 units the previous year.