Foton to build $300m Brazil plant
Updated: 2012-09-19 19:59
(皇冠体育app Daily)
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Beijing-based commercial vehicle maker Foton Motor will invest $300 million in Brazil to build a plant to make light-duty trucks and minivans, according to a statement by the state government of Bahia.
The new facility is scheduled to start operation at the end of next year. At the outset, Foton will export components to Brazil for assembly, with plans to gradually raise local content to 65 percent by 2017.
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