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Volkswagen to invest $3.5 billion in Brazil

Published: November 27, 2009 4:33 AM
By The Associated Press  GEORGE FREY (AP Business Writer)

Quick ReadVolkswagen to invest $3.5 billion in Brazil on new models, expanding production

FRANKFURT (AP) — Germany's Volkswagen AG on Friday announced plans to invest euro2.3 billion ($3.5 billion) in Brazil and said it hopes to be building a million vehicles a year in the country by 2014.

Volkswagen said the planned investment through 2014 is aimed at increasing production capacity and developing new models. It expects to produce some 800,000 vehicles in the South American country...

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