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Volkswagen unveils major Audi investment in Brazil

Germany’s VW car group has said it will resume the production of Audi cars in Brazil, seven years after it closed a plant of its luxury subsidiary. VW will also invest heavily in expanding its own operations there.

The Volkswagen group is planning to restart the production of Audi cars in Brazil from 2015, Germany's biggest carmaker announced Tuesday.

Under plans to prepare for the manufacturing of Audi Q3 and A3 Sedan models in its Curitiba plant, about 150 million euros ($200 million) would be invested, Audi Chief Executive Rupert Stadler said in a statement.

"By producing in Brazil, we will create the basis for further growth in the region," he added.

The announcement marks Audi's return to its plant in Brazil's Parana province after it stopped producing cars there in 2006. The investment reportedly came after Brazilian President Dilma Rousseff had promised tax breaks to the German luxury carmaker.

Audi seeks to win market share in emerging economies from German rival BMW which announced last year a new investment worth 200 million euros in a plant in Brazil. Audi is due to open its second plant in China later this year, and currently builds a factory in Mexico, which is scheduled to start production in 2016.

Audi parent company Volkswagen also announced it would boost its investment in Brazil.

On Tuesday, the world's third-biggest car group said some 230 million euros would be earmarked for preparing the production of its latest Golf model in Brazil.

uhe/mz (AFP, Reuters dpa)

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