Brazil approves tax breaks for Ford, Fiat, other automakers

BRASILIA (Reuters) - Brazil's President Michel Temer on Thursday signed into law hundreds of millions of dollars in incentives for automakers such as General Motors Co and Volkswagen to produce locally and continue developing engines that run on both gasoline and ethanol.The plan, known as Rota 2030, replaces a previous package of tax exemptions known as Innova Auto that had expired at the end of 2017. It will also provide incentives to improve the fuel efficiency and safety of vehicles, as..