Volkswagen is making a bold statement with a whopping R$ 13 billion ($2.36 billion) investment in São Paulo. The pledge, announced at the Volkswagen plant in São Bernardo do Campo, will focus on modernizing assembly lines for popular models like the Virtus, Polo, Nivus, and the Saveiro pickup. The investment also aims to propel vehicle electrification, aligning with global sustainability trends.
To support this massive investment, São Paulo’s government will refund R$ 1 billion ($181.82 million) in tax credits. These incentives are part of the ProVeículo program, aimed at promoting automotive investments through tax credit releases. Volkswagen’s commitment to São Paulo is set to reach R$ 16 billion ($2.91 billion) by 2028, emphasizing their dedication to electrification and environmental sustainability.
This significant investment not only promises to rejuvenate São Paulo’s industrial sector but also underlines the importance of sustainable practices and government incentives in driving innovation and environmental responsibility in the automotive industry.