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 mentioned on Friday, including the corporate goals to develop a hybrid-flex car within the South American nation.
Honda’s announcement is the most recent in a sequence of contemporary investments by automakers corresponding to Volkswagen, Common Motors, Stellantis and Toyota in Brazil.
In response to Brazil’s authorities, investments pledged by automakers within the nation for the approaching years already complete practically 130 billion reais.
Honda’s industrial vp in Brazil, Roberto Akiyama, mentioned the agency’s investments can be targeted 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 instructed reporters, expects to provide as many as 150,000 autos per 12 months on the Itirapina plant by 2030, up from 100,000 this 12 months, for each gross sales within the home market and exports.
Along with the hybrid-flex car but to be developed, Akiyama mentioned 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)
