*Argentina’s economy minister, Luis Caputo, has held a meeting with executives from French car manufacturer Renault, in which the company announced that it will invest US$350m to produce a new pickup truck model in its Santa Isabel factory, in the Córdoba metropolitan area. Caputo stated on social media that production is expected to begin in 2026 and is projected to directly generate 850 jobs and 4,000 jobs indirectly. According to a press release from the economy ministry, around 65-70% of the new range will be exported. The investment from Renault comes amid an annual decline in vehicle production in Argentina. According to the latest figures from the national association of automobile manufacturers (Adefa), vehicle production in the first eight months of 2024 was down 23.4% compared to the same period last year.
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LatinNews Daily - 18 September 2024
In brief: French carmaker Renault boosts investment in Argentina
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