Fiat Will Build Its Largest Plant in Brazil
By Brendan Moore
Fiat has told Brazilian government officials that it will build the company’s largest production facility ever in the company’s Betim factory in Brazil, outside Belo Horizonte in southeastern Minas Gerais state. The expansion of the existing plant there will cost approximately $2.8 billion USD and is forecast to be completed by the end of 2010.
The Italian automaker is doing its best to leverage it already-strong presence in Brazil.The Brazilian auto market has been growing quickly and is expected to keep growing at breakneck speed for at least the next decade. Anfavea, the national automakers association of Brazil, says that Brazil should see yet another record year of sales at 2.4 million to 2.45 million cars this year, which is a jump of 25 percent from last year. In-country vehicle production is expected to increase 13 percent to 2.96 million cars this calendar year.
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