German car manufacturer Volkswagen is going to invest 1.8 billion dollars in Brazil in the next five years. News Reuters.
According to the auto giant’s plan, the allocated money will be used to expand business in the Latin American country and launch 16 new hybrid and electric models.
The pickup will be built in Brazil’s Paraná province and the new hybrid engine will come from the Sao Paulo factory. Volkswagen sees only 2 percent expansion in the Brazilian market in 2023. The company wants to take control of a significant part of this market within the next five years.
