Since this year, Volkswagen, General Motors and Hyundai Motor have announced plans to increase investment in Brazil. The vice president of Toyota Motor Brazil said that Toyota will invest 11 billion reais in Brazil in the next few years (Note: approximately 15.978 billion RMB).
The investments will be formally announced at an event at Toyota’s plant in Sorocaba, Sao Paulo state, Brazil’s Vice President and Industry Minister Geraldo Alckmin said. The investments are expected to create 2,000 jobs, he added.
Lauro Jardim, a columnist for local newspaper O Globo, said Toyota would build hybrid cars and SUV models at the Sorocaba plant, without specifying which models would be involved.
