SAO PAULO (Reuters) -Japanese auto maker Toyota will announce on Tuesday an 11 billion real ($2.2 billion) investment for the next few years in Brazil, the South American country’s vice-president said on Sunday.
Toyota said in a statement earlier on Sunday, after local media had first reported the new investments, it had no comment on potential future plans.
Brazil’s vice-president and minister for industry Geraldo Alckmin said on social media the investments will be unveiled at an event in Toyota’s factory in the city of Sorocaba, Sao Paulo state.
He added the investments are expected to create 2,000 jobs and launch new models.
Local newspaper O Globo’s columnist Lauro Jardim, which reported earlier on Sunday the planned investment, said Toyota will make a hybrid car and a sport utility vehicle (SUV) in the Sorocaba unit, without specifying the models involved.
Toyota would be the latest…
