Japan's Toyota inaugurates its third plant in Brazil
SOROCABA , Brazil (AFP) - Japan's Toyota, the world's biggest carmaker, on Thursday inaugurated a US$600 million (S$746 million) plant in the south-eastern state of Sao Paulo, its third in Brazil, with the aim of producing 70,000 cars a year initially.
The facility, located 91km west of Sao Paulo in Sorocaba, will begin producing Etios compact cars in September, with engines imported from Japan.
Attending the inauguration in the sprawling, new complex were Toyota President Akio Toyoda, Brazilian Development, Industry and Foreign Trade Minister Fernando Pimentel, Sao Paulo Governor Geraldo Alckmin and Japanese Ambassador to Brazil Akira Miwa.
Mr Toyoda described the four-door Etios, which will be produced in hatchback and sedan versions, as "a car made by Brazilians for Brazilians".