Chinese truck and van maker Anhui Jianghuai Automobile (JAC) will hold a 20% stake in a $BR900m (US$509.3m) vehicle assembly plant in Brazil, China’s commerce ministry said.

The facility, scheduled to start operating in 2014, would have an annual capacity of 100,000 units, the ministry said on its website, according to Reuters.

Go deeper with GlobalData

Go deeper with GlobalData

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

Unidentified Brazilian investors held 80% of the plant, which would assemble vehicles priced at less than BR$50,000, the statement said.

In July, rival Chery Automobile unveiled a plan to build a $400m car plant in theBrazil with initial capacity of 50,000 units.

Just Auto Excellence Awards - Nominations Closed

Nominations are now closed for the Just Auto Technology Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.

Excellence in Action
Neonode has won the Innovation Award for Driver Monitoring Software for its camera-based, MultiSensing®-powered solution that delivers precise hands-on-wheel detection, regulatory-ready safety performance and low-footprint integration. Discover how Neonode is redefining driver monitoring, UX and compliance for next-generation semi-autonomous vehicles.

Discover the Impact