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The figure will be directed mainly to research and development of products and services, said the Swedish company.
In 2021, Volvo sold 21,800 trucks in Brazil, up 45.7% over the previous year. The Brazilian truck market recorded 43.5% growth in the period to 128,700 vehicles.
“Brazil maintained its position as Volvo’s second largest truck market in the world, even at a time of limitations due to the pandemic and supply chain constraints,” said the group’s president for Latin America, Wilson Lirmann.
For 2022, the company has a positive forecast, “but challenges in the production chain, both in capacity and cost increases, will require attention throughout the year,” said Lirmann.
($1 = 5.2936 reais)
