Toyota to invest $338M in new hybrid, flex-fuel compact car

In Brazil, Reuters reports Toyota plans to invest $338 million at its Porto Feliz plant to manufacture a currently unnamed new hybrid, flex-fuel compact that will run on both ethanol and gasoline as well as battery power. The company already launched its hybrid, flex-fuel version of a Corolla in Brazil in 2019. Part of the planned investment will come from tax credits the company has banked in the state of Sao Paulo. The new model is expected to be launched next year.