Fiat will make the biggest investment in its history in Brazil. According to current president Jair Bolsonaro, by 2024, the brand will inject BRL 16 billion into the country.
Fiat Chrysler (FCA) announced this Wednesday, May 22, that it will invest BRL 8,5 billion in the factory in Betim (MG), the largest vehicle factory in Brazil. Part of this amount, R$ 500 million, will be used to install a new line of turbo engines. The amount will be applied until 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 factory in Goiana (PB), which makes Fiat and Jeep brand cars.
According to the FCA, the expectation is to generate 9 thousand jobs in the period in MG. The new line of engines alone should account for 1.200 jobs.
The automaker also confirmed that it will have 15 launches by 2024, with “2 or 3 SUVs” for Fiat, which has not yet entered this disputed segment of the Brazilian market. The first will hit stores in 2021, as the brand itself had already announced.
In all, the Fiat Chrysler group will invest BRL 16 billion in Brazil until 2024, a plan that was announced by our current president Jair Bolsonaro this Thursday, May 23, on his Twitter account. According to him, it is the “biggest investment cycle in the history of the company in our country”.
“We are rescuing the confidence of those who produce!”, he tweeted. The president also said that the investments should generate 16 new direct and indirect jobs.
In the morning, Bolsonaro met, at the Planalto Palace, with the world president of Fiat Chrysler Automobiles, John Elkann, and other group executives.
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