Caoa Invests R$ 3 Billion and Plans to Hire 800 Employees at Brazilian Factory

Written by Valdemar Medeiros

Published on 01/09/2023 at 13:48

Foto: faixada empresarial do Grupo Caoa/Reprodução

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Caoa Is Investing R$ 3 Billion in Its Factory in Goiás. The Expectation Is That, In Addition to Generating 800 Jobs, the Unit’s Capacity Will Be Expanded by 150%.

The Caoa group has started a new investment cycle in the municipality of Anápolis (GO). The announcement was made on Tuesday (29) and forecasts a total of R$ 3 billion to be invested over the next 4 years, generating 800 direct jobs.

The confirmation of the factory expansion was announced during a meeting with the Vice President of the Republic and Minister of Development, Commerce, Industry, and Services, Geraldo Alckmin (PSB), and the Vice Governor of the State of Goiás, Daniel Vilela (MDB).

Investments Focus on Increasing the Production Capacity of Caoa’s Manufacturing Unit

The focus of the Caoa Group is on a 150% increase in the production capacity of the SUV Tiggo 5X, in addition to maintaining marketing and after-sales activities carried out by the manufacturer. There are also plans to expand the dealership network focused on the sale of Chinese-origin cars.

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The amount of R$ 3 billion will be invested in expanding the production capacity of the factory by 2029, generating hundreds of jobs. According to Carlos Alberto de Oliveira Andrade Filho, the company’s president who was also present at the meeting, this investment will allow for an increase in vehicle production for the Caoa Chery brand.

grupo Caoa -investimentos - Goiás — Geraldo Alckmin (PSB), and the Vice Governor of the State of Goiás, Daniel Vilela (MDB)

According to the executive, with this plan that Caoa is presenting now, the estimate is to generate 800 new direct jobs. The Caoa group is a national company that believes in Brazil’s potential.

Thus, it will continue to invest in new products, renewal of current ones, as well as in the introduction of new electrification technologies. The investment estimate includes not only the area of new vehicles and manufacturing.

Investments for the Expansion of the Caoa Group Factory Will Strengthen the Electric Car Market

As mentioned above, the project also includes maintaining investments in the manufacturer’s marketing and after-sales sectors and expanding its dealership network, focusing on greater distribution capacity.

The company also stated its goal to continue investing in local Research and Development, leveraging mainly the qualified professionals in the region.

The project, in addition to generating hundreds of jobs, should strengthen the brand’s electric and hybrid cars, both those produced in Goiás and those imported from China. This marks the second consecutive investment in the Anápolis plant. The previous investment was made in November 2020 when the manufacturer announced an investment of R$ 1.5 billion.

Currently, Caoa has an important Center for Research and Energy Efficiency (CPEE), which establishes partnerships with state and federal universities in Goiás. Recently, the Research Center inaugurated the world’s largest glass facade with solar films. The building’s glass received organic photovoltaic (OPV) films on a surface of 850 m², generating sustainable energy with solar radiation efficiency.

Controversies Surrounding Caoa’s New Investment

The new investment by Caoa comes at a time when tax benefits are being questioned. Manufacturers based in the South and Southeast regions have campaigned against a possible extension of the tax incentives currently in place in the Northeast and Central-West. The main controversy involves the Stellantis group, which seeks to extend the program to maintain production plans at the Goiana (PE) factory.

In May of last year, Caoa announced the suspension of production in the city of Jacareí. Initially, it was intended to be a temporary halt; however, there has been no forecast for return.

The company confirms that the situation has not changed, and the unit remains closed. Also in 2022, the 489 employees laid off from their jobs in Jacareí accepted a compensation plan of nine to 15 nominal salaries, with a cap of R$ 5,000.

Caoa Invests R$ 3 Billion and Plans to Hire 800 Employees at Brazilian Factory

Caoa Is Investing R$ 3 Billion in Its Factory in Goiás. The Expectation Is That, In Addition to Generating 800 Jobs, the Unit’s Capacity Will Be Expanded by 150%.

Investments Focus on Increasing the Production Capacity of Caoa’s Manufacturing Unit

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

Investments for the Expansion of the Caoa Group Factory Will Strengthen the Electric Car Market

Controversies Surrounding Caoa’s New Investment

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Caoa Invests R$ 3 Billion and Plans to Hire 800 Employees at Brazilian Factory

Caoa Is Investing R$ 3 Billion in Its Factory in Goiás. The Expectation Is That, In Addition to Generating 800 Jobs, the Unit’s Capacity Will Be Expanded by 150%.

Investments Focus on Increasing the Production Capacity of Caoa’s Manufacturing Unit

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Investments for the Expansion of the Caoa Group Factory Will Strengthen the Electric Car Market

Controversies Surrounding Caoa’s New Investment

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Where there was only sand and wind at 40 degrees, China built a megacity of 500,000 inhabitants with farms, wineries, and universities in the middle of the desert using melted glacier water from hundreds of kilometers away.

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