Carmaker’s announcement demonstrates “confidence” in Brazilian economy, Geraldo Alckmin said
03/04/2024
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Geraldo Alckmin — Foto: Cadu Gomes/VPR
Vice President Geraldo Alckmin said Sunday (3) that he was about to attend an event on Tuesday (5) at Toyota to announce an investment of R$11 billion in Brazil for the production of new vehicle lines. According to Mr. Alckmin, the investment will create 2,000 jobs in the country.
The news that Toyota’s Sorocaba plant will be expanded was first reported by O Globo columnist Lauro Jardim.
“Another success for Brazil and the Lula administration! On Tuesday (5), in Sorocaba (São Paulo), I’ll attend an event where, thanks to the federal government’s Mover and Fuel for the Future programs, Toyota will announce investments of R$11 billion in the country over the next few years, creating 2,000 jobs and launching new models,” Brazil’s vice president wrote on social media.
Mr. Alckmin stressed that the carmaker’s announcement “is a clear demonstration of the confidence that this major Japanese company has in our economy.”
Ualace Moreira, secretary of Industrial Development, Innovation and Trade, said the investment by Toyota and other carmakers is the result of actions taken by the Lula administration, including tax incentives totaling R$19.3 billion under the Mover program, the restoration of import tariffs to stimulate domestic production, and the recovery of the domestic market. “With the R$19.3 billion stimulus from Mover and the restoration of import tariffs, Toyota will invest in its factories in Brazil, in São Paulo, creating 2,000 jobs,” he said.
Toyota did not respond to Valor’s requests for a comment.
*Por Julia Lindner — Brasília
Source: Valor International