Ford Motor Co. will be pouring an investment worth 2 billion reais ($1.15 billion) in Brazil through 2015 to expand production, Bahia state governor Jaques Wagner said in a recent radio interview. Most of the investment will be spent on a plant in the northeastern Bahia state.

President Luiz Inacio Lula da Silva attended the announcement ceremony in the plant premises in Camacari, along with Governor Wagner and Ford’s president for the Americas, Mark Fields. As part of the investment plan, Brazil’s government will extend state and federal tax breaks to Ford. In the US, Ford ranks second to General Motors while in Brazil, it is the fourth-largest automaker by sales. With this investment in Brazil, Ford aims to take advantage of the expected growth in Latin America’s largest economy.

[via reuters]

Tags: car news, Ford, ford brazil investment, ford news

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