Sao Paulo, Brazil, 2 Aug – Chinese car manufacturer Jianghuai Automobile Company (JAC Motors) and SHC the company’s importer, plan to invest US$600 million in building a factory in Brazil.
The factory, which is planned to build 100,000 vehicles per year, is due to start operating in 214, according to the chairman of SHC, Sérgio Habib.
The location of the factory was not announced, but it is expected to be located in Sao Paulo, Rio de Janeiro, Goiás, Bahia, Pernambuco, Paraná or Santa Catarina.
The chairman of SHC said that JAC Motors would take on half the investment necessary.
Habib said that JAC Motors hoped to take a 3 percent share of the Brazilian market by the end of 2012.
According to the National Federation of Automotive Vehicle Distribution (Fenabrave), from January until 15 July of this year JAC sold 10,073 vehicles in Brazil. The manufacturer was 13th amongst vehicle manufacturers, with a 0.7 percent market share, in a market that is expected to sell 3.7 million vehicles this year.
In July Chinese automotive company Chery Automobile also started building a car factory in Brazil. (macauhub)