BMW Will Build a Plant in Brazil for 395 Million Dollars

March 1, 2013 at 09:30

The world famous company BMW is planning to put into their business 800 million reais (about 395 million U.S. dollars) which will be spent on creating a new assembly factory in Brazil. It is assumed that the new plant will produce cars BMW and BMW Mini. As told to Financial Officer of BMW, the company has to go through all the procedure with the government and sign an investment plan with them. The details and the exact number of the top managers is not named, as negotiations with the Brazilian authorities have not yet been completed. Sources within the company who are familiar with the project, on condition of anonymity, told the news agency that BMW will invest R $ 800 million in the plant.

BMW Brazil factory

Image of the BMW Brazil factory

Group decided to build their own business after raising taxes on imported cars, and also because of new rules requiring foreign auto companies to raise the level of localization of production. In addition, the Group expects to benefit from the growing car market in Brazil, the largest in Latin America in the luxury car segment.

BMW Hamann car

Picture of the BMW Hamann car

According to some sources, the new plant will produce five models, including cars Mini. Officially, the company did not confirm this information, but said that next week will be a meeting with the president to discuss the details. BMW car sales in Brazil rose by 29.4% in the first nine months of the last year, which is up to 8768 cars.

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