A Toyota dealership in Yokohama, Japan, photographed on Feb. 7, 2021. The agency is seeking to make headway in the ever more aggressive electrical automobile current market.
Toru Hanai | Bloomberg | Getty Photos
Japanese auto maker Toyota will announce on Tuesday an 11 billion serious ($2.2 billion) investment decision for the subsequent handful of yrs in Brazil, the South American country’s vice-president stated on Sunday.
Toyota said in a statement earlier on Sunday, following nearby media had initial noted the new investments, it had no remark on potential upcoming designs.
Brazil’s vice-president and minister for industry Geraldo Alckmin said on social media the investments will be unveiled at an occasion in Toyota’s manufacturing facility in the town of Sorocaba, Sao Paulo state.
He extra the investments are expected to develop 2,000 employment and launch new models.
Neighborhood newspaper O Globo’s columnist Lauro Jardim, who reported earlier on Sunday the prepared expenditure, said Toyota will make a hybrid car or truck and a activity utility vehicle (SUV) in the Sorocaba unit, with out specifying the versions involved.
Toyota would be the most up-to-date global automaker to unveil ideas for excess financial investment in Brazil this calendar year, adhering to providers these kinds of as Volkswagen, Common Motors and Hyundai Motor.