Seat to invest up to €500 million annually in its Martorell factory

The Spanish car company Seat will invest up to €500 million euros annually in its Martorell factory, according to its CEO, Francisco Javier García Sanz. The company, which has already spent up to €300 million this year, has agreed to a four-year investment plan. According to Seat, the fabrication of the new Audi Q3 car will create up to 750 jobs in the Martorell factory. Moreover, it is expected that up to 3,750 more jobs will be indirectly created through Seat’s auxiliary companies.

In a round-table discussion with other businesspeople in Girona, García Sanz said that the car industry sector may suffer a loss of up to 50% of its sales next year. The CEO argued that Seat is investing in Catalonia because it is necessary to have 'strong roots' in the country in order to then operate successfully overseas. However, García Sanz said that Spain is one of the 'most chaotic' countries to invest in for car companies. Seat's CEO explained that the company is in its 'initial plans' to develop an electric car. He urged the sector to 'rethink' itself in order to develop new technologies adapted to 21st century needs. According to García Sanz, the fabrication of the electric car would likely be carried out in one of its Spanish factories. However, he did not mention when it will start.