The French automaker seeks to augment its presence in Brazil through a 240 million euros investment that would aid in locally building more models and open a new logistics unit.
According to a statement issued by the company, the current Curitiba facility would be granted 162 million euros in 2014-19 to invest in building two new car models, while the remainder of the money – 78 million euros would be used to build a new parts distribution centre – needed to support the sales network in several South American countries.
“Since 2011, Brazil is the brand’s second largest market after France and it is a priority in the Group’s global growth strategy”, says Carlos Ghosn. “Renault Brazil successfully completed its previous investment plan and is now pursuing the ambition of expanding its domestic market share”.
Present on the local market as a producer for 15 years now, Renault currently holds a 6.7% market share in the country and is the fifth largest auto company here. The short-term goal for the company is to raise the share to 8% by 2016.
The distribution center is planned over the next decade and would be implemented in Quatro Barras – State of Paraná, with operations due to start during the second half of 2015.
Via Automotive News Europe
by Aurel Niculescu
) - Friday, April 18th, 2014 - filed under Industry
. Image credit: .
Discuss: Renault to further invest in Brazil