BRASILIA (Reuters) -Japanese automaker Honda will make investments 4.2 billion reais ($807.74 million) in its Itirapina plant in Brazil by 2030, an govt stated on Friday, including the corporate goals to develop a hybrid-flex automobile within the South American nation.
Honda’s announcement is the most recent in a collection of contemporary investments by automakers corresponding to Volkswagen, Normal Motors, Stellantis and Toyota in Brazil.
In keeping with Brazil’s authorities, investments pledged by automakers within the nation for the approaching years already whole practically 130 billion reais.
Honda’s business vp in Brazil, Roberto Akiyama, stated the agency’s investments can be centered on new applied sciences and the event of a hybrid mannequin for the Brazilian market, which might be capable to run 100% on ethanol.
The corporate, he advised reporters, expects to provide as many as 150,000 autos per yr on the Itirapina plant by 2030, up from 100,000 this yr, for each gross sales within the home market and exports.
Along with the hybrid-flex automobile but to be developed, Akiyama stated Honda additionally plans to launch a brand new entry-level SUV within the Brazilian market in 2025.
His remarks observe a gathering with President Luiz Inacio Lula da Silva in Brasilia.
($1 = 5.1997 reais)
(Reporting by Lisandra Paraguassu; Modifying by Kylie Madry)
