From the Newsroom*
São Paulo – Volkswagen Brazil will invest 3.2 billion Brazilian reais (US$ 1.8 million) in production of new vehicles and process improvement from 2007 to 2011. That total represents a 28% increase over the amount originally announced in October last year, which was 2.5 billion reais (US$ 1.4 billion). The announcement was made yesterday (29th) by the president at Volkswagen Brazil, Thomas Schmall.
According to a press release issued by the company, 80% of the amount will be invested by the Brazilian subsidiary itself, whereas the remaining 20% will come from the Volkswagen Group headquarters, in Germany.
*Translated by Gabriel Pomerancblum
