VW Are Boosting The Brazilian Market With 2.3 Bn Euros

Volkswagen has announced that they are looking to boost Brazilian operations by investing 2.3 billion euros into the market. The expansion will help the company reach a new delivery target of 1 million vehicles per year for 2014.

“The Volkswagen Group will strengthen its leading competitive position in Brazil over the long term with these investments,” Prof. Dr. Martin Winterkorn, Chairman of the Board of Management of Volkswagen Aktiengesellschaft, said. “Brazil is one of our most important growth markets worldwide. We expect demand there to rise significantly over the coming years and we are now systematically adjusting our manufacturing capacity,” Winterkorn continued.

VW will use the funds to boost capacity in nchietá, Taubaté and the engine plant in São Carlos.