SAO PAULO (Reuters) – Volkswagen AG does not plan to produce electric or hybrid vehicles in Brazil in the next few years, although it will begin importing them this year, its top executive for South America Pablo Di Si told reporters on Tuesday.

Brazil was one of the world’s largest auto markets until a recent economic downturn and remains a significant base for many automakers. The Brazilian market relies heavily on ethanol, a biofuel that receives incentives from the government and which has been embraced by the local auto industry.

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