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EU opens investigation into Portuguese aid to Volkswagen
October 1, 2014 / 9:54 AM / 3 years ago

EU opens investigation into Portuguese aid to Volkswagen

BRUSSELS, Oct 1 (Reuters) - The European Commission said on Wednesday it had opened an in-depth investigation into German carmaker Volkswagen’s planned receipt of 36.15 million euros ($45.6 million) of state aid for investing at a plant in Portugal.

Portugal informed the Commission in June of its plan to support Volkswagen Autoeuropa in its introduction of new technology at its plan in Palmela, located in the Setubal peninsula, a region of high unemployment and low income.

The total investment envisaged is 672 million euros.

An in-depth investigation allows third parties to present their views on the effects of the aid. (1 US dollar = 0.7933 euro) (Reporting By Philip Blenkinsop)

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