Lula celebrates that Brazil’s automotive sector will have investments of US$ 8,260 million

The automotive sector Brazil will have committed investments of 41,000 million reais (about 8,260 million dollars) until 2032, stated the Brazilian president, Luiz Inácio Lula da Silva.

“It’s not just Volkswagen. The country’s automotive sector is announcing 41,000 million reais of investments because people believed in this country again,” he stated. Lula on a visit to the largest factory of the German multinational in Brazil.

Volkswagen doubled its investments in the country to 16 billion reais (3.2 billion dollars) by announcing this Friday an additional 9 billion reais (1.8 billion dollars) in its plan until 2028.

“This country once again had contact with the outside world,” he highlighted. Lula in reference to the growing number of announcements in recent months for the Brazilian automotive industry until 2032.

In January, in a meeting with Lula and the vice president and minister of industry and commerce, Geraldo Alckmin, the American giant General Motors announced investments of 7 billion reais (1.4 billion dollars) until 2028.

Already in 2023, the Chinese Great Wall had committed 10,000 million reais (about 2,000 million) until 2032, while the Stellantis group 5,100 million reais (about 1,000 million dollars) for the Renault brand.

In turn, Caoa, representative in Brazil of the Chinese Chery and of some South Korean models hyundaiannounced 4.5 billion reais (about 900 million dollars), and the Japanese Nissan for 2.8 billion reais (about 560 million dollars).

The Chinese BYD, which will occupy the facilities that belonged to the largest manufacturer of the American company ford in the country, announced this Friday an agreement with the Brazilian energy company Raízen to build 600 electric car charging stations.

That company had also committed investments in Brazil in 2023 for 3,000 million reais (about 600 million dollars) until 2030, to complete the million-dollar private investment package encouraged by the Government.

During the event at Volkswagenin which unions and employees also participated, Vice President Alckmin highlighted the national program Green Mobility and Innovation (Mover), which promotes sustainability in the automobile sector.

Launched in December and aligned with the neoindustrializationthe program expands the requirements to decarbonize the automobile fleet and stimulates the production of new technologies in the areas of mobility and logistics.

The investments in innovation and decarbonization of the sector They are in line with the objectives of the New Brazilian Industry, an industrial policy that will allocate 300,000 million reais (about 60,300 million dollars).