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Montevideo, November 15th 2018 - 12:37 UTC

Fiat plans to invest 7bn dollars in next three years to remain main automaker in Brazil

Wednesday, May 8th 2013 - 09:02 UTC
Full article 3 comments
 Fiat CEO Marchionne Fiat CEO Marchionne

Italy’s carmaker Fiat is upping its stake in Brazil, pouring about 7 billion dollars into local investments by 2016, according to a plan its CEO Sergio Marchionne handed President Dilma Rousseff on Monday.

The company's plans expand on an earlier outline that called for about 4 billion dollars in investment between 2011and 2014, state news agency Agencia Brasil reported.

The outlays will fund building and expansions of factories in Brazil, the agency said.

The investment by Fiat, Brazil's biggest automaker, will create about 7,700 jobs directly and another 12,000 indirectly nationwide in the South American powerhouse.

Brazil is the world's fourth largest car market. It saw record sales of 3.8 million vehicles in 2012.
 

Categories: Economy, Investments, Brazil.

Top Comments

Disclaimer & comment rules
  • ChrisR

    But what he did not say was the AR factories will close in 2016 at the end of the building phase in Brasil.

    May 08th, 2013 - 05:50 pm 0
  • Stevie

    Chris, I must admit, it's really funny to read about your pains...

    Hahahaha!!!

    May 08th, 2013 - 08:54 pm 0
  • ChrisR

    2 Stevie

    Have you READ this piece?

    Do you understand commercial reality?

    No, I thought not.

    May 08th, 2013 - 09:14 pm 0
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