Stellantis announced investments of 5.6 billion euros (30 billion reais) in Brazil between 2025 and 2030, and the launch of 40 new products, strengthening the automotive group's hybrid vehicle platform.
This was announced in a press conference in Brasilia by the global CEO of Stellantis, Carlos Tavares, after a meeting with president Luiz Inacio Lula da Silva.
“This is the solidity of our confidence and commitment in the future of the South American automotive industry and it is a response to the favorable environment we find here,” Tavares said.
Toyota also announces investments: 11 billion reais, equal to just over 2 billion euros in Brazil by 2030 to start the production of new hybrid vehicles.
The Japanese carmaker said it intends to produce new models with intermediate combinations in the state of Sao Paulo, with the opportunity to create 2,000 jobs locally.
Brazil is South America's largest economy and one of the main hubs for distributing vehicles to other markets on the continent, and the government gives preferential treatment to car manufacturers that produce eco-friendly vehicles.
Other automakers, including Volkswagen, General Motors and Hyundai Motor, have already announced large-scale investment plans in Brazil.
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