Volkswagen announced that it will invest R$ 1 billion in its bus and truck production line in Brazil over the next five years. This is 50% higher than the last four five-year plans designed by the company for Brazil.
After presenting the plan to President of the Republic Michel Temer, the MAN Latin America CEO, Roberto Cortês, stated that the increased resources derive from an increased confidence in the economy.
“This is proof that we believe in Brazil. We are preparing ourselves for when Brazil leaves this unfortunate current crisis. We at Volkswagen will be ready to market this production, which we hope will grow a lot”, he said.
The investments are focused on new products, innovation in the production process at the Resende factory (in Rio de Janeiro), and innovation and expansion of digital and connectivity services, as well as brand expansion.
Toyota Wants to Double Factory Size
After a meeting between the President of the Republic Michel Temer and Steve St. Angelo, Toyota CEO for Latin America and Chairman of the company’s Administration Board in Brazil, Toyota announced that it will invest R$ 600 million in the country. The company wants to practically double the size of its plant in Porto Feliz (state of São Paulo).
According to St. Angelo, he told Temer about Toyota’s plans to continue investing in Brazil. “These investments are another opportunity to create more jobs for Brazilians, good direct jobs”, he said.
The idea is that this new plant should produce 68,000 Corolla engines to be sold in Brazil or assembled in vehicles to be exported to Latin America.
He believes that Brazil is now showing stability, and it is the right moment to work and cooperate so that the country can progress even further. “These investments are proof that we believe in Brazil. Brazil is a great country, with a great people and significant resources”, he argued.