Japanese carmaker Toyota announced plans to invest 11 billion reais (or around 2.2 billion US dollars) in Brazil, over the next few years.
Brazil’s vice president and industry minister Geraldo Alckmin said on social media that the investment would be announced at an event at the Toyota plant in the city of Sorocaba, Sao Paulo state.
The investment is expected to create 2,000 jobs and launch new models, he said.
It is reported that Toyota will make hybrid cars and sport utility vehicles (SUVs) at the Sorocaba unit, without specifying the models in detail.
Toyota will be the latest global automaker to announce additional investment plans in Brazil this year, following the likes of Volkswagen, General Motors. and Hyundai Motor.
