*Japanese car manufacturer Toyota has announced that it will invest R$11bn (US$2.2bn) in its operations in Brazil before 2030, R$5bn of which will be invested by the end of 2026. According to a press release from the office of President Luiz Inácio Lula da Silva, this marks the largest investment that Toyota has ever made in Brazil. The carmaker has estimated that the investment will create over 2,000 direct jobs in Brazil by 2030. The Lula government has declared boosting national industrial production as a priority, an objective to which several international car manufacturers have contributed in recent months. In January, US carmaker General Motors (GM) and Chinese electric vehicle manufacturer BYD announced more investment in Brazil, while German firm Volkswagen and South Korean carmaker Hyundai pledged more investment in February.
Back
LatinNews Daily - 06 March 2024
In brief: Japanese carmaker Toyota boosts investment in Brazil
- VENEZUELA: Election date announced
- In brief: Peru’s prime minister resigns
- BRAZIL: São Paulo declares dengue emergency
- In brief: Japanese carmaker Toyota boosts investment in Brazil
- HAITI: Henry re-emerges in Puerto Rico as gangs consolidate control
- In brief: Report highlights dire state of Honduran public hospitals
- MEXICO: Gov’t responds to candidate protection requests
- In brief: Job creation down year-on-year in Mexico
- PARAGUAY: Colorados seek to dispel controversy
- In brief: Uruguay’s inflation edges down