Volkswagen announced on Tuesday its plan to invest €1 billion in its operations in South America by 2026 amid the projections that the continent's automotive market will expand by 11% per year until 2030.
According to Volkswagen's written statement, the company will seek to scale up its business in Brazil y 40% by 2027, starting with the launch of ID.4 and ID. Buzz models in that country before the end of 2023. It also stressed that any of the models produced in the region will be built on the principle of "alternative drives and openness to technology" and have the option to run on 100% biofuel "until the market is fully electrified."
"With the product offensive, we are bringing extremely attractive vehicles to customers in Brazil and in South America. It helps us accelerate the transformation to zero-carbon and fully networked mobility. And we are making good progress. The new Polo is already the best-selling car in Brazil," Volkswagen Group South America Executive Chairman Alexander Seitz remarked.
