Caoa to Invest R$1.5 Billion in Goiás Assembly Plant, Considers Luxury Brand

RIO DE JANEIRO, BRAZIL – Caoa announced on Monday afternoon, November 23rd, a R$1.5 billion investment in the automaker‘s plant in Anápolis, Goiás. The amount should be used in the production of new models, electrification projects, and even a new brand.

“We believe in our operation. Despite the pandemic, we never stopped investing,” said Mauro Correia, Caoa group CEO.

According to the automaker, 2,000 jobs will be created over the next five years and more than 20,000 indirect jobs.

The investment will enable the plant to receive ten launches – among new models, versions, and electrification projects – and a “new brand”.

The company also plans to increase Caoa Chery dealerships in Brazil from 101 to 150. “The renovation of the fiscal incentives by the federal government was crucial to enable this investment”, highlighted Correia.

At the plant, models such as Hyundai (Tucson, ix35, New Tucson, HR, and HD78) and the Chery (Tiggo 5X, the Tiggo 7, and Tiggo 8) are produced. The installed capacity is approximately 86,000 units.

Luxury brand?

For 2021, Chery will be introducing its luxury brand Exeed in Brazil, with a focus on SUVs. Production should be undertaken on a shared platform at the Anápolis plant, information not yet confirmed by Caoa.

The new brand is expected to take Chery to a new level in Brazil, being associated with premium products.

Caoa’s plan also projects electrical models at the plant. Last year, Caoa Chery launched the Arrizo 5e in Brazil, which is fully electric.

Source: Exame