TOYOTA PLANS TO INVEST BRL 11 BILLION IN BRAZIL

Geraldo Alckmin, the vice president and minister of development, industry, commerce, and services, said that Toyota intended to invest BRL 11 billion in Brazil. Tuesday, the 5th, is the planned announcement day in Sorocaba, São Paulo, the location of the company’s facility. Alckmin highlighted Toyota’s confidence in the Brazilian economy in addition to programs like Green Transportation and Innovation, and Fuel of the future, which aim to reduce greenhouse gas emissions and enhance the sustainability of transportation. After meeting with President Lula, the global head of Hyundai announced plans to invest USD 1.1 billion in Brazil by 2032.
Source: Dinheiro Rural (*Translated by Ia Niani)