Brasília – The Incentive Program to Technological Innovation and Expansion of the Motor Vehicle Production Chain (Inovar Auto) will help Brazil increase exports, particularly to markets which favour cutting-edge technology. It will also improve the quality and lower the price of vehicles made for the domestic market. According to the minister of Development, industry and Foreign Trade, Fernando Pimentel, the industry’s competitiveness level will increase as five or six new automakers arrive in the country in the next three years.
“[German automaker] BMW will announce the construction, in Brazil, of its first plant outside the European continent. Next week, the company’s world president will come to the country to make the announcement,” said Pimentel.
“It seems [the factory] will be in South Brazil, but I don’t want to say anything in advance because the company itself will make the announcement during its president’s visit to Brazil,” the minister added. Pimentel said BMW has filed a request to adhere to the new auto industry regime. “After that, the process will happen quickly.”
Inovar-Auto is a government stimulus program to research, technology and innovation in the auto industry, by means of incentives to companies which invest in technological innovation. It covers companies which manufacture or sell automobiles in the country, and those with projects to invest in the country.
*Translated by Gabriel Pomerancblum
