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% more than the last four five-year plans developed by the company for Brazil.
After presenting the plan to President Michel Temer, the CEO of MAN Latin America, Roberto Cortês, stated that the increase in resources comes from greater confidence in the economy.
“It is proof that we believe in Brazil. We are preparing for when Brazil comes out of this unfortunate current crisis. We at Volkswagen will be ready to market this production, which we hope will grow significantly,” he said.
The investments are focused on new products, innovation in the production process at the Resende factory (in Rio de Janeiro), innovation and expansion of digital and connectivity services, as well as brand expansion.Toyota Aims to Double Factory Size
After a meeting between President Michel Temer and Steve St. Angelo, CEO of Toyota for Latin America and chairman of the company’s board in Brazil, Toyota announced that it will invest R$ 600 million in the country. The company aims to nearly double the size of its plant in Porto Feliz (São Paulo state).
According to St. Angelo, he spoke to Temer about Toyota’s plans to continue investing in Brazil. “These investments are yet another opportunity to create more jobs for Brazilians, good direct jobs,” he said.
The idea is for this new plant to 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 demonstrating stability, and it is the right time 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 great people and significant resources,” he argued.