Volkswagen AG (Xetra: VW), a Germany-based automaker, is planning to invest €3.4bn in upgrading its model range and plants in Brazil.
The automaker is taking this step as part of its aim to become the world’s biggest carmaker by 2018.
The company’s investment plan in Brazil is valid until 2016 and includes spending of €126m at its component plant in Sao Carlos, to expand production to 4,800 engines per day from the present 3,800.
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