Volkswagen Financial Services (VWFS) UK opened its new office in Milton Keynes yesterday.
The new office provides 100,000sq feet over four floors. The rooftop of the building has 82 solar panels, which VWFS claim will produce 40,000KW per year.
Go deeper with GlobalData
Work on the development began at the end of July 2013.
The opening ceremony was attended by Graham Wheeler and Albert van den Burgh, of VWFS, Peter Ammon, German Ambassador to the Court of St James, and Vince Cable, Secretary of State for Business, Innovation and Skills.
At the ceremony, Wheeler said: "Our move to the new purpose built site marks the commitment of VW Financial services (UK) Ltd (VWFS) to the UK automotive industry and Milton Keynes. The new building will allow VWFS to remain close to its sister company, Volkswagen Group, and provide enough space for the company to grow incrementally over the next 20 years. This would secure the future of VWFS as a major contributor to the economy."
Cable said: "This significant investment in Milton Keynes has already created 350 jobs and is very welcome. Along with the company’s ownership of Bentley, it demonstrates Volkswagen’s continuing commitment to the UK and is a vote of confidence in the skills of our workforce.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData"The availability of finance plays a substantial part in the strong market for new cars in this country and helps contribute to the success of our automotive industry."
VWFS has an £11bn portfolio, and finances six out of every 10 Volkswagen Group car sales in the UK.
