Fiat Chrysler to invest US$4bn in Brazil
May, 23, 2019 Posted by datamarnewsWeek 201922
Fiat Chrysler Automobiles, the owner of Fiat and Jeep, have announced they will invest RS$16bn in two Brazilian factories as part of a plan to regain lost market share in Brazil.
The company plans to invest R$7.5bn in a jeep plant in Pernambuco where annual capacity will be increased from 250,000 units to 350,000 units as well as RS$8.5m in the Betim Plant in Minas Gerais, which will be expanded to produce more efficient turbo engines. The company also plans to produce 15 new, refreshed, or special series models for Fiat brand and 10 for its Jeep and Ram brands by 2024.
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