Toyota will announce on Tuesday an 11bn real (R42,059,908,000) investment for the next few years in Brazil, the South American country's vice-president said on Sunday.
Toyota said, after local media 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 said 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 in the Sorocaba unit, without specifying the models involved.
Toyota would be the latest global carmaker to unveil plans for extra investment in Brazil this year, after companies such as Volkswagen, General Motors and Hyundai.
Toyota to invest $2bn in Brazil
Image: SOE ZEYA TUN
Toyota will announce on Tuesday an 11bn real (R42,059,908,000) investment for the next few years in Brazil, the South American country's vice-president said on Sunday.
Toyota said, after local media 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 said 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 in the Sorocaba unit, without specifying the models involved.
Toyota would be the latest global carmaker to unveil plans for extra investment in Brazil this year, after companies such as Volkswagen, General Motors and Hyundai.
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