Honda's Big Bet on Brazil
April 22, 2024, 3:47 pm
Location: Netherlands, North Holland, Hoofddorp
Employees: 10001+
Founded date: 2021
Total raised: $331.53M
Location: United States, California, Torrance
Employees: 10001+
Founded date: 1959
Honda is placing a hefty bet on Brazil, with plans to invest $808 million in the country by 2030. This move is part of a larger trend, with automakers like Volkswagen, General Motors, Stellantis, and Toyota also pouring money into Brazil's automotive industry. The Brazilian government reports that these investments total nearly 130 billion reais, signaling a significant commitment to the country's market.
Honda's commercial vice president in Brazil, Roberto Akiyama, revealed that the company's investment will focus on new technologies and the development of a hybrid model specifically tailored for the Brazilian market. This hybrid vehicle is designed to run entirely on ethanol, a unique feature that could appeal to environmentally-conscious consumers. By 2030, Honda aims to ramp up production at its Itirapina plant to 150,000 vehicles per year, a substantial increase from the current 100,000 units. These vehicles will not only cater to domestic demand but also target export markets, showcasing Honda's ambition to expand its global footprint. In addition to the hybrid model, Honda plans to introduce a new entry-level SUV to the Brazilian market in 2025, further diversifying its product lineup. Honda's investment in Brazil underscores the country's importance as a key player in the global automotive industry, setting the stage for exciting developments in the years to come.
Honda's commercial vice president in Brazil, Roberto Akiyama, revealed that the company's investment will focus on new technologies and the development of a hybrid model specifically tailored for the Brazilian market. This hybrid vehicle is designed to run entirely on ethanol, a unique feature that could appeal to environmentally-conscious consumers. By 2030, Honda aims to ramp up production at its Itirapina plant to 150,000 vehicles per year, a substantial increase from the current 100,000 units. These vehicles will not only cater to domestic demand but also target export markets, showcasing Honda's ambition to expand its global footprint. In addition to the hybrid model, Honda plans to introduce a new entry-level SUV to the Brazilian market in 2025, further diversifying its product lineup. Honda's investment in Brazil underscores the country's importance as a key player in the global automotive industry, setting the stage for exciting developments in the years to come.