MAN is to spend US$570m in Brazil from 2012 to 2016 as it aims to double production in Latin America’s largest market.
Local media reports said that MAN, which is owned by the Volkswagen Group, wants to boost production under the MAN and Volkswagen brands to more than 140,000 units, according to the truckmaker’s Latin America president Roberto Cortes.
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He told O Globo daily: “”It is the largest sum announced by MAN Latin America in its 30-year history.”
The company currently makes 77,000 vehicles a year at its plant in Resende, Rio de Janeiro state.
This is the latest in a series of investment announcements by carmakers recently and the Brazilian media is reporting that PSA Peugeot Citroen will next week announce new investments in its plant in Porto Real, also in Rio state.
Earlier this month Nissan announced it was investing US$1.5bn in a new plant in Resende, with an estimated capacity of 200,000 units a year.
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