SAO PAULO -- Toyota Motor said Wednesday that it will spend 1.7 billion reals ($334 million) in Brazil to produce a new compact hybrid vehicle that can be powered by biofuel.
Brazil is home to a growing number of so-called flex fuel vehicles that run on either all bioethanol, all gasoline or a mixture of both. So far, Toyota has only rolled out flexible fuel hybrids within its flagship Corolla series.
