ZCZC
BCN-38
BRAZIL-TOYOTA-INVESTMENT
Toyota announces major investment in Brazil
RIO DE JANEIRO, Sept. 29, 2018 (BSS/Xinhua) – Japanese vehicle
manufacturer Toyota on Friday said it planned to invest 1 billion reals (250
million U.S. dollars) to modernize its plant in southeastern Brazil.
According to Toyota, the investment will be used to improve, update and
modernize all manufacturing processes in the factory to increase its
competitiveness in the Brazilian and Latin American markets.
It is the first large investment in Brazil’s automotive sector after the
government announced the Route 2030 Program, a 15-year plan that promises a
better future for its auto industry.
The plant is in Indaiatuba in the state of Sao Paulo.
BSS/XINHUA/HR/1350