Toyota Motor Company announced on March 5th local time that it will invest 11 billion reals (approximately 2.22 billion US dollars) in Brazil by 2030, including producing a new car specifically designed for Brazilian consumers.
Toyota's CEO in Brazil, Evandro Maggio, stated that it is expected to invest 5 billion reals by 2026, with an additional 6 billion reals to be invested by 2030. The investment plan also includes expanding factories in the cities of Felice Port and Sorokaba. The former will start producing hybrid system engines in 2025, while the latter is expected to start producing batteries in 2026.