The VW Group is already the largest foreign investor in Russia. Since 2006, it has invested nearly €1 billion (US$1.3 billion) in facilities and new models and just last week, it announced the allocation of a further €840 million (US$1 billion) in the next three years.
Nearly €250 million (US$326 million) will be spent building a brand-new, 30,000 square-meter engine plant next to its existing vehicle facility at Kaluga, which currently produces the VW Polo and Tiguan and the Skoda Fabia and Octavia models.
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