Nissan Motor said it would invest a further BRL2.8bn (US$575m) in its Brazilian operations in the next two years to produce two new SUVs and a new turbocharged engine.

The company made the announcement as it celebrated its 23rd anniversary in Brazil at its manufacturing plant in the Resende Industrial Complex, in Rio de Janeiro state, which it said was attended by 2,400 people including plant workers, government officials, suppliers and the automaker’s global CEO Makoto Uchida.

One of the new models will be the redesigned Kicks compact SUV. Details of the second SUV were not released but the company did say it would be exported to 20 Latin American countries.

Nissan said the new funds would be invested in additional manufacturing equipment and “a series of improvements” which would support production of the two new models.

The powertrain plant, where the function was held, would assemble an advanced turbo engine for use across the brand.

Nissan said this would be the first significant upgrade since the plant started operation in 2014 and was designed to “strengthen its mission” as an export hub.

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Minor improvements have been made over the last decade, including efforts to improve ergonomics and the addition of new technology.

Following this latest announcement, Nissan’s cumulative investments in its Resende operations would increase to BRL6.2bn.