In the wake of the great performance in auto exports and improved economic indicators, companies have begun investing to get projects off the ground. This year alone, five major carmakers have announced over R$ 10 billion in investments to expand, build and improve assembly lines.

Projections from economists explain the reason for this bet in Brazil. Expectations show the country back on track for growth. For 2018, projections point to a 2.38% growth in the Brazilian economy.

With this scenario on the radar, Toyota recently announced that it will invest R$ 1 billion in its Sorocaba (SP) unit for the manufacture of the Yaris. Production will begin in the second half of 2018 and is expected to generate 500 new jobs, according to the company.

The Japanese carmaker had already announced a R$ 600 million investments for the production of a new generation of Corolla engines. The new engines, which previously would have been imported, will now be produced at the Toyota factory in Porto Feliz (SP). The investment will increase the unit’s production capacity from 108,000 to 174,000 engines per year and is expected to generate 250 new direct jobs.

In addition to Toyota, Volvo, Renault, General Motors (GM) and Volkswagen have also announced new investments. GM, for example, will share its next round of investments between the Gravataí Industrial Complex (RS) and the São Caetano do Sul (SP) and Joinville (SC) units. Source: BrazilGovNews