B CAR News

Renault will invest $684 million to build new car in Spain

Renault said it will invest more than 600 million euros ($684 million) in a project in Spain that includes building a new car and a new engine in its Valladolid plant.

The 2017-2020 project would exceed Renault’s previous two investment plans in Spain, a company spokesman said on Thursday, without giving any more details.

The company emerged from the local automaker FASA, which assembled Renault cars since 1953.In the year 2000 FASA-Renault became a wholly owned subsidiary of Renault, being called Renault España.

Renault’s largest previous investment in the country had been 600 million euros.

Renault builds the Captur subcompact SUV and Twizy four-wheel electric scooter in Valladolid, according to Automotive News Europe’s Guide to European Assembly Plants.