• Categories
  • Archives

Fiat Has Big Plans for Brazil and US$ 6 Billion to Implement Them

Fiat factory in Brazil Italian car manufacturer Fiat announced this week that it plans to invest 3 billion reais (US$ 1.75 billion) to build a second plant in Brazil, the carmaker’s No. 2 market after its native Italy. 

The new factory will be located in the industrial complex in Suape, a port in the northeastern state of Pernambuco, Brazilian president Luiz Inácio Lula da Silva and Fiat executive Cledorvino Bellini said at a ceremony in Salgueiro, Pernambuco.

The facility will employ up to 3,500 people to turn out 200,000 vehicles per year, according to the state government, which said Fiat’s “strategic investment” will also spur industrialization in Pernambuco.

Besides the assembly plant, Fiat plans a research and development center at the site and may also establish a training facility.

“We are living today something historic for Brazil and for the Northeast,” said Lula, who was born in impoverished Pernambuco, while Bellini said the plant in Suape is part of Fiat’s plan to invest US$ 6 billion in its Brazilian operations between now and 2014.

The factory’s output is intended both for the Brazilian market and for export to other countries in Latin America, according to a statement from Fiat, which already produces cars in the southeastern Brazilian state of Minas Gerais.

Precisely in the state of Minas Gerais Fiat plans to increase production by 150,000 cars per year, the press office said. That factory produces 800,000 cars a year.

Fiat has been making cars in Brazil since 1976, producing mostly for the domestic market.



  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


You May Also Like

Lower Oil Prices Stir Brazil Market Up

Brazilian and Latin American shares continued to post gains, as traders are bullish on ...

Brazil Gets Record Trade Surplus in the Mercosur

Brazil’s trade surplus with its Mercosur partners (Argentina, Paraguay, and Uruguay) in 2004 was ...

House by the river on Brazil Amazon

10 Million or 45% of Brazil’s Amazon Population Live on Less Than US$ 2 a Day

Brazil may not achieve the UN Millennium Development Goals because parts of the country ...

Brazil’s Petrobras Needs to Respect Bolivia’s Property Rights

A Brazilian physicist, José Walter Bautista Vidal, who played an important role in the ...

Brazil Publishes List of 222 Products for Retaliation Against the US

The Brazilian government is getting ready to retaliate against the United States for the ...

Brazilians Won’t Need a Visa to Visit the US Anymore

President Bush has signed legislation allowing citizens of 12 more countries, including Brazil, to ...

Brazil’s Four-fuel Vehicle Ready for the Road

Brazilian cars may start cruising with an engine powered by four different fuels until ...

Lúcio Flávio Pinto

Legislation from Dictatorship Makes Brazilian Journalist a Hostage

Brazilian journalist Lúcio Flávio Pinto reports from the lawless and isolated Amazon region of ...

Calls for Death Penalty for Kids in Brazil

The assassination of two high school sweethearts by a minor in São Paulo has ...

Once again: Brazilians Are Not Hispanic

A number of the diverse populations who migrated to Brazil include: Portugal, Italy, Poland, ...