Brazil’s President Lula da Silva has launched a groundbreaking initiative targeting an eco-friendly transformation of the nation’s auto industry. He announced an investment of 41 billion reais (about $8.2 billion), focusing on advancing green technology, including producing hybrid and electric vehicles. This announcement was made at Volkswagen’s Sao Paulo headquarters, underscoring a major move towards […]
Related Posts
Stellantis Pledges $508M for Rio Plant
Stellantis will invest R$2.5 billion ($508 million) in Rio’s Porto Real plant by 2025. The news came after a meeting between Stellantis’ South America President, Antonio Filosa, and Rio’s Governor, Cláudio Castro. At the meeting, the company showcased its new Citroën C3 Aircross SUV. This model will soon go into production in Porto Real. Filosa […]
Argentina’s Central Bank Slashes Interest Rate to 35% Amid Economic Reforms
Argentina’s economy is taking a new turn as the Central Bank (BCRA) cuts its benchmark interest rate to 35%. This move, down from 40%, marks the seventh reduction since President Javier Milei took office in late 2023. But why does this matter? Think of interest rates as the cost of borrowing money. When rates are […]
