VW plans $1.8 billion investment in Brazil to electrify cars

Volkswagen Brazil CEO Ciro Possobom said the company will invest 9 billion reais (about 1.8 billion U.S. dollars) in Brazil between 2026 and 2028 to promote the electrification of automobiles. The investment will cover Volkswagen's four factories in Brazil and involve the research and development of new hybrid platforms and new models.