Industryweek 4300 Fiat 500 Promo

Fiat Sees Opportunity in Brazil -- Will Invest $7 billion Through 2016

May 7, 2013
The company, Brazil's biggest automaker, will create about 7,700 jobs directly and another 12,000 indirectly nationwide.

BRASILIA -- Fiat (IW 1000/48) is upping its stake in Brazil, pouring about $7 billion into local investments by 2016, according to a plan its CEO Sergio Marchionne handed President Dilma Rousseff on Monday.

The company's plans expand -- dramatically so -- on an earlier outline that called for about $4 billion in investment between 2011-2014, state news agency Agencia Brasil reported.

The outlays will fund building and expansions of factories in Brazil, the agency said.

The investment by Fiat, Brazil's biggest automaker, will create about 7,700 jobs directly and another 12,000 indirectly nationwide in the South American powerhouse.

Brazil is the world's fourth largest car market. It saw record sales of 3.8 million vehicles in 2012.

Copyright Agence France-Presse, 2013

Popular Sponsored Recommendations

3D Printing a More Efficient Factory Floor

Nov. 16, 2023
Today’s additive manufacturing platforms make it simple to print a wide range of high-performing industrial parts as soon as possible and right where you need them — unlocking...

Disruptive EV Technologies Are Driving New Supplier Realities

Sept. 20, 2023
Vehicle electrification is upending the automotive landscape, forcing suppliers to make critical strategic and operational decisions. Understand what that means for you in our...

Food and Beverage 2024 Trends and Outlook for North America

Oct. 29, 2023
Ready to hear what 200 of your peers said are the top challenges and opportunities in 2024? Don’t fall behind. Uncover actionable insights to better prepare for 2024 in this whitepaper...

Navigating Disruption: A Leader’s Guide to Strategy Under Uncertainty

Nov. 1, 2023
AI, sustainability, digital--industrials are facing disruptive forces that are redefining what it takes to win. What got your company where it is today won’t get you where you...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!