Following the excellent performance in automobile exports and the improvement of economic indicators, companies have begun to invest to bring projects to fruition. Just this year, five major automakers announced over R$ 10 billion in investments to expand, build, and enhance assembly lines.
The projections from economists explain the reason for this bet on Brazil. Expectations show the country back on the path to growth. For 2018, projections indicate a growth of 2.38% in the Brazilian economy.
With this scenario in mind, Toyota recently announced that it will invest R$ 1 billion in its Sorocaba (SP) unit for the production of the Yaris. Production is set to begin in the second half of 2018 and is expected to create 500 new jobs, according to the company.
The Japanese automaker had already announced investments of R$ 600 million for the production of a new generation of Corolla engines. The new engines, which were previously to be imported, will now be produced at Toyota’s factory in Porto Feliz (SP). This investment will increase the production capacity of the unit from 108,000 to 174,000 engines per year and is expected to create 250 new direct jobs.
In addition to Toyota, Volvo, Renault, General Motors (GM), and Volkswagen have also announced new investments. GM, for example, will split its next round of investments between the Industrial Complex of Gravataí (RS) and the units in São Caetano do Sul (SP) and Joinville (SC). Source: BrazilGovNews