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Stellantis to invest $6 billion in Brazil by 2030
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Stellantis to invest $6 billion in Brazil by 2030
Mar 6, 2024 9:10 AM

BRASILIA, March 6 (Reuters) - Carmaker Stellantis

will invest 30 billion reais ($6.07 billion) in

Brazil between 2025 and 2030, it said on Wednesday, aiming to

launch new products and introduce hybrid-flex vehicles in the

country.

The investment, announced shortly after a meeting between

company executives and President Luiz Inacio Lula da Silva,

comes as the government tries to reignite the country's

industry.

Other automakers, such as GM, Volkswagen,

Hyundai, and Toyota ( TM ) had already announced

investments in the country.

Among Stellantis' ( STLA ) plans for Latin America's largest economy

is adding electrification technology to its flex-fuel models,

which run both on gasoline and ethanol, Chief Executive Carlos

Tavares said in a press conference.

The company's next launch is scheduled for the second half

of the year and will be a hybrid vehicle, he said.

($1 = 4.9386 reais)

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