China’s Great Wall Motors said on Friday (28) that it would invest 11.5 billion yuan ($1.81 billion) over the next decade to produce electric vehicles in Brazil, where it took over a Mercedes-Benz plant in the interior of São Paulo.
Great Wall is China’s largest pickup truck maker and plans to launch 10 new electrified products within three years in Brazil, four of which will be all-electric vehicles and six hybrids. The automaker added that it will launch the first product in the fourth quarter of this year.
The vehicles will be produced in the city of Iracemápolis (SP), officially taken over by the Chinese automaker on Thursday.
Great Wall said the plant will start operating in the second half of next year and that it expects to produce 100,000 vehicles a year.
Daimler sold the plant in Iracemápolis to Great Wall for an undisclosed sum last August, in a deal that marked the arrival of the Chinese automaker in Brazil.
Reference: CNN Brasil