Fiat, leader of the Brazilian auto market for the past 9 years, will invest BRL 3 billion (approximately US1.8 billion) to construct a new plant in the Port and Industrial District in Suape in the State of Pernambuco. This investment forms part of the BRL 10 billion (US5.9 billion) that Fiat had already planned to invest in Brazil between 2011 and 2014, including BRL 7 billion (US$4.1 billion) in Minas Gerais.
The new plant will have a production capacity of some 200,000 vehicles per year and will produce new models, developed in Brazil, for the domestic market, as well as other Latin American markets.
The new plant represents a strategic investment for Fiat, the State of Pernambuco and the Northeast Region, as it forms part of a comprehensive program of industrialization and economic and social development for the Region. The money will be invested in construction of a manufacturing facility and R&D center, design and development of new products and platforms, in addition to training for employees.