BMW to invest $264 mn in first Brazil plant
Quotes

BMW to invest $264 mn in first Brazil plant

Last Updated: Wednesday, October 24, 2012, 14:05
 
 Comment 0
 
BMW to invest $264 mn in first Brazil plant
Brasilia: German automaker BMW plans to build its first Latin American plant in Brazil, investing USD264 million in the project, BMW Group sales and marketing chief Ian Robertson said.

Robertson revealed the extent of the company's investment in Brazil following a meeting with Brazilian President Dilma Rousseff.

The president offered her "absolute support" for the project, the BMW executive told reporters.

Construction of the plant will start in April 2013, with the manufacturing facility expected to be at full production in 2014, when the German automaker's first 30,000 vehicles produced in Brazil are expected to roll off the assembly line.

The plant will be constructed in the city of Araquari, where BMW will undertake "the complete assembly" of automobiles, Robertson said.

The plant will initially produce only the BMW X1, but production will be adjusted later to meet domestic demand, Robertson said, adding that "production will follow sales".

IANS



First Published: Wednesday, October 24, 2012, 14:05


Comments


comments powered by Disqus
India`s top ten billionaires
India`s top ten billionaires
Pradhan Mantri Jan Dhan Yojana - In Pics
Pradhan Mantri Jan Dhan Yojana - In Pics
Apple Smartwatch unveiled
Apple Smartwatch unveiled
Apple iPhone 6, iPhone 6 plus
Apple iPhone 6, iPhone 6 plus
Samsung Galaxy Tab 4 Nook
Samsung Galaxy Tab 4 Nook
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved