Nissan Motor announced plans to spend BRL750m (US$186m) over the next three years to produce a new local model at its Resende plant in Brazil, just west of Rio de Janeiro.

The company plans to produce the Nissan Kicks, a new urban SUV, for sale locally and for export worldwide, according to group CEO Carlos Ghosn.

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The new line will create an aditional 600 jobs at Resende.

Ghosn said the economic recession and political crisis had driven auto sales in Brazil lower by a quarter last year. He added that this remained a key strategic market for Nissan and the brand had expanded market share even as sales declined.

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