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The Toyota Factory in Sorocaba, São Paulo, Will Receive Investment for the Corolla Cross Production Line. 800 New Jobs Are Expected to Be Created
The Japanese multinational Toyota and the City Hall of Sorocaba, in the state of São Paulo, signed a letter of intent on the 14th (Friday) regarding an investment of R$ 1 billion in the company’s factory in the municipality, located in the interior of the state. The investment from the automaker will be aimed at modernizing the production line for the Corolla Cross, the company’s new bet. The company’s and the city hall‘s estimate is that 800 new jobs will be created, 200 of which will be direct and 600 indirect. See also: R$ 14.7 billion and 10 thousand jobs are expected to be created during the construction of the new Suzano factory, considered the largest single production line of cellulose in the world
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Signing of the Contract Between Toyota and Representatives of the Municipality
The signing of the letter of intent took place in a ceremony at the City Hall during the morning of Friday. The ceremony was held after a meeting with representatives from Toyota, including the company’s president in Brazil, Rafael Chang, the mayor Rodrigo Manga, and municipal secretaries from Sorocaba, São Paulo.
Rafael Chang, President of Toyota in Brazil, states that the company is studying its investment plan in Brazil, but he avoided giving details about the next steps for the Japanese multinational in the city. According to Rafael, it is a difficult moment due to the pandemic, but it aims for the medium and long term. The president of Toyota in Brazil also emphasizes that he believes in the potential of the Brazilian market, the possibility of exportation, and mentions that the conversation with the mayor was about the predictability they hope to achieve for the future, as investments are made for four to five years.
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The CEO of Toyota Brazil also commented, during the meeting with the mayor of Sorocaba, on issues of tax equivalence in São Paulo and the accumulation of the Tax on Circulation of Goods and Services (ICMS). Rafael says that the state of São Paulo should have the same tax level as other states, which sometimes have incentives for other brands, and they, as a manufacturer, do their part by reducing costs, exporting more, and localizing more parts used in production.
Job Creation in the Interior City of São Paulo
The expectation is that 800 jobs will be created in the interior city of São Paulo, with 200 being direct jobs, contracted by Toyota, and another 600 indirect jobs from suppliers of equipment for the production of the new model, the Corolla Cross. The mayor of Sorocaba also mentions that, during the meeting, Toyota informed that it intends to invest in the production of new models in two years in Sorocaba, generating even more jobs and prosperity for the region.
Rodrigo Manga further states that, in addition to direct jobs, people will consume in the city, which drives the economy and brings prosperity. With the advancement of vaccination, the municipality’s priority is economic development, and this confidence from the industry in the city has motivated greater tax collection for the municipality.
New Production Line of Toyota in Sorocaba, São Paulo
The Corolla Cross is the world’s first hybrid flex vehicle with technology developed in Brazil, allowing it to be powered by fuels and utilize electric energy. Rafael Chang states that there is the advantage of not needing to be plugged in, as it is a self-recharging vehicle, in addition to using ethanol, a clean fuel produced in Brazil.
The sport utility vehicle (SUV) will be exported to 22 countries in Latin America and the Caribbean. With an estimated production growth of 30% this year compared to last year, the Toyota group expects to close 2021 with 170,000 units produced. Of these, almost 30% are expected to reach other markets in the Latin American region.
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