Japanese automaker Honda announced plans to invest 4.2 billion reais ($807.74 million) in its Itirapina plant in Brazil by 2030. This investment aims to develop a hybrid-flex vehicle, a first for the South American country. Honda’s commitment reflects a broader trend, with automakers like Volkswagen, General Motors, Stellantis, and Toyota also making significant investments in Brazil.
According to Brazil’s government, these investments from automakers are poised to reach nearly 130 billion reais in the coming years.
Honda’s commercial vice president in Brazil, Roberto Akiyama, highlighted that the company’s focus will be on new technologies, particularly the development of a hybrid model tailored for the Brazilian market, capable of running entirely on ethanol.
Akiyama stated, “We expect to produce as many as 150,000 vehicles per year at the Itirapina plant by 2030, up from 100,000 this year, for both domestic sales and exports.” In addition to the hybrid-flex vehicle, Honda also plans to introduce a new entry-level SUV to the Brazilian market in 2025.
