808 million dollar investment from Honda to Brazil
Japanese automobile manufacturer Honda announced that it will invest $808 million in Brazil by 2030.
Roberto Akiyama, Honda’s Commercial Vice President in Brazil, announced that Honda will invest 4.2 billion reais ($807.74 million) in the Itirapina facility in Brazil by 2030.
On the other hand, it was reported that the company aims to develop a hybrid vehicle in the South American country. Honda’s announcement is the latest in a series of new investments in Brazil from automakers such as Volkswagen, General Motors, Stellantis and Toyota. According to the Brazilian government, the total investments committed by automakers in the country in the coming years amount to approximately 130 billion reais.
Akiyama said the company’s investments will focus on new technologies and the development of a hybrid model that can run on 100 percent ethanol for the Brazilian market. Akiyama also stated that in addition to the hybrid vehicle to be developed, Honda plans to launch a new entry-level SUV in the Brazilian market in 2025.