LatinNews Daily - 25 September 2023

* The US-Italian-French car manufacturer Stellantis has announced that it will invest R$2.5bn (US$506.5m) until 2025 in its Porto Real car factory in Brazil’s south-eastern state of Rio de Janeiro. According to a Stellantis press release, the facility in Porto Real municipality is one of five Stellantis production plants in South America. On the same day that he announced the new investment, the South America head of Stellantis, Antonio Filosa, presented the new Citroën C3 Aircross model to the governor of Rio, Cláudio Castro; this new model is due to begin production in Porto Real. In its press release, Stellantis stated that the latest investment would also be allocated for the development of a new CMP car platform, a set of components which will be the base for hybrid and electric vehicles. According to a press release from the Rio state government, the Stellantis plant has already generated 1,700 jobs and Governor Castro said that this investment was “proof of the recovery of the economy and of investors’ belief in Rio de Janeiro”.