Nissan Motor Corporation have announced that they will be investing up to $575 million (R$ 2.8 billion) in their Brazil gigafactory in Resende which will host the production of two new sports utility vehicles (SUVs) and assembly of a turbo engine.

One of the models to be produced at the Resende Industrial Complex, in Rio de Janeiro whilst the company intends to export the second SUV to more than 20 countries in Latin America.

Makoto Uchida, CEO and President of Nissan Motor Co., announced the company’s investment and next steps, he said:

“Guided by our Ambition 2030 vision and taking into account the needs and realities of Brazil and South America, we have a local strategy that will ensure our transformation in the next few years. We need to demonstrate our commitment with new actions to build a strong foundation so that we can further evolve and contribute to meet our global objectives.”

The investment aims to provide new equipment and a series of improvements that will support the production to make the two new SUVs at Nissan’s Resende Industrial Complex.

The manufacturing development plan also includes the powertrain plant at Nissan’s industrial park. The factory will assemble an advanced turbo engine that will be used across the brand.

Just before the investment announcement, four new suppliers confirmed they would join the on-site Nissan facilities in Resende.

Nissan’s investments in Resende are totaling R$ 6.2 billion, in 10 years.

Read the full announcement here.

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