Seat will invest 3.3 billion in development

SEAT has announced that it will invest around EUR3.3 billion (USD3.69 billion) between 2015 and 2019. According to a statement released by the brand, the announcement coincided with a visit by Spanish prime minister Mariano Rajoy to the automaker's site in Martorell (Spain). SEAT executive committee president Jürgen Stackmann said that the cash is "earmarked for promoting new vehicle development R&D projects at the SEAT Technical Centre as well as equipment and facilities in the Martorell factory." This will include the introduction of four new models during the next two years, including a new compact sport utility vehicle (SUV) during the first half of 2016.