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Fiat Will Make The Largest Investment In Its History In Brazil. According To Current President Jair Bolsonaro, By 2024, The Brand Will Inject R$ 16 Billion Into The Country.
Fiat Chrysler (FCA) announced this Wednesday, May 22, that it will invest R$ 8.5 billion in the Betim (MG) factory, the largest vehicle plant in Brazil. Part of this amount, R$ 500 million, will be used to implement a new turbo engine line. The total will be applied by 2024 in the expansion of the unit.
On the 16th of this month, the automaker confirmed that R$ 7.5 billion will be invested in the Goiana (PB) factory, which produces cars under the Fiat and Jeep brands.
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According to FCA, the expectation is to generate 9,000 jobs during the period in MG. Only the new engine line is expected to be responsible for 1,200 positions.
The automaker also confirmed that it will have 15 launches by 2024, including “2 or 3 SUVs” for Fiat, which has not yet entered this competitive segment of the Brazilian market. The first will hit the stores in 2021, as the brand itself had already indicated.
In total, the Fiat Chrysler group will invest R$ 16 billion in Brazil by 2024, a plan announced by our current president Jair Bolsonaro this Thursday, May 23, on his Twitter account. According to him, this is the “largest investment cycle in the history of the company in our country.”
“We Are Restoring The Confidence Of Those Who Produce!”, He Tweeted. The president also stated that the investments are expected to generate 16,000 new direct and indirect jobs.
In the morning, Bolsonaro met, at the Palácio do Planalto, with the global president of Fiat Chrysler Automobiles, John Elkann, and other executives from the group.
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