No, WhatsApp cannot read your messages or listen to your calls
The Internet is very big and some media in many countries are talking about the new policy without asking too much. You should not only keep that WhatsApp will now share the information with Facebook, but also with what kind of information. The company, after thousands of articles and news, has made it clear that private messages remain private.
The new policy WhatsApp does not have access to messages that you share with individual chats or groups and neither to the voice or video calls you make. These conversations remain private and at no time are they shared with Facebook or used by the company itself. This is what they say, what happens, few really know.
Definitely, WhatsApp does not have access to your private conversations, but yes to the location data, device model, IP address, IMEI, data about your language, battery level, etc.