Daimler Trucks is set to invest BRL1bn ($458m) in two Brazilian commercial vehicle plants.
Finishing touches at Brazilian plant Image: Daimler AG |
Daimler's investment at the two plants will mainly focus on research and development of new products and technology innovation.
The money will also be used to optimise and modernise the two production sites in Sao Bernardo do Campo in Sao Paulo State and Juiz de Fora in the State of Minas Gerais.
The funding will be injected between 2014 and 2015, with this latest investment following the company's previous BRL1.5bn boost into the production of trucks, buses and components at the Brazilian locations.
Sao Paulo will also see an investment of around €170m ($227m) from Daimler's luxury car business Mercedes-Benz, for a new factory manufacturing the C-Class mid-size and the GLA compact crossover for the local market.