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Volkswagen AG has no plan to produce electric or hybrid vehicles in Brazil in the next few years, although it will start importing them this year, its top executive for South America Pablo Di Si informed reporters on Tuesday.
Brazil was among the world’s largest auto markets until a latest economic downturn and remains a major base for many automakers. The Brazilian market relies heavily on ethanol, a biofuel that gets incentives from the government and that has been embraced by the local auto industry.
