Volkswagen has huge ambitions for Brazil, announcing not just a €1 billion investment but also the debut of a new family of tiny vehicles, which it teased.The Volkswagen Polo Track is the first vehicle in the brand's new compact car family to hit the market. The polo Track will be built on the MQB platform, which is also used by various other VW and VW Group cars.
The money will be spent over the next five years on local automotive initiatives in South America. In 2017, the firm made a deliberate effort to modernize its portfolio, introducing 20 new models in only four years to the South American market.
The investment is part of the company's efforts to digitize its goods and decarbonize its operations, which includes the establishment of a new biofuel research facility in the area. With highly connected automobiles and next-generation features, VW is betting big on a green future.
As its combustion engine business slips away, VW is planning an all-electric future, promising dozens of new EVs and hybrids by the end of the decade. The new entry-level sector will arrive in Latin America in 2023, according to the latest information. The new Polo Track will be manufactured in VW's facility in Taubaté, Brazil.
EVs still account for a tiny portion of the entire automotive market.