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Toyota announced it will invest 11 billion reais ($2.22 billion) in Brazil, with production to begin in two phases in 2030 and include new cars designed specifically for consumers in the country.
This investment is Toyota’s first overall investment plan in Brazil, of which 5 billion reais will be invested by 2026 and the remaining 6 billion reais will be invested by 2030, but the specific use has not yet been determined.
Toyota will expand its plants in Port Feliz and Sorocaba to produce batteries and hybrid system engines starting in 2026. In addition, the factory operations in Indayatuba will be transferred to Sorocaba, and employees can choose to move with the business.
(Source: Reuters Image source: Unsplash)
