Honda to invest $808 million in Brazilian plant

BRASILIA, Brazil: Last week, Roberto Akiyama, Honda’s commercial vice president in Brazil, said the Japanese automaker will invest 4.2 billion reais ($807.74 million) in its plant in Itirapina, Brazil, by 2030.

Honda aims to develop a hybrid-flex vehicle in the South American country, he added. Akiyama made his comments after a meeting with President Luiz Inacio Lula da Silva in Brasilia.

Other major automakers, such as Volkswagen, General Motors, Stellantis, and Toyota, have also announced new investments in Brazil.

The Brazilian government said that these investments by automakers in the country already total nearly 130 billion reais for the coming years.

Akiyama said Honda’s investments would be focused on new technologies and developing a hybrid model that can run 100 percent on ethanol for the Brazilian market.

He added that it also plans to produce some 150,000 vehicles annually at the Itirapina plant by 2030 for both domestic and export sales, compared with around 100,000 this year.

Akiyama concluded that in addition to an upcoming hybrid-flex vehicle, the Japanese car giant plans to launch a new entry-level SUV in the Brazilian market in 2025.