Reuters
Toyota confirms $2 billion investment in Brazil by 2030
Japanese auto maker Toyota officially announced on Tuesday an 11 billion real ($2.22 billion) investment in Brazil, saying it will be made in two parts by 2030, and include the output of a new vehicle specially designed for the country’s costumers. Brazil’s vice president and minister for industry, Geraldo Alckmin, had previously on Sunday unveiled Toyota’s investment, but had not given details including its period extension. Toyota’s CEO in Brazil, Evandro Maggio, told Reuters this is the first investment plan the automaker releases in the country, as until now it had been unveiling its investments project by project.