Bras\u00edlia \u2013 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\u2019s competitiveness level will increase as five or six new automakers arrive in the country in the next three years. <\/p>\n
\u201c[German automaker] BMW will announce the construction, in Brazil, of its first plant outside the European continent. Next week, the company\u2019s world president will come to the country to make the announcement,\u201d said Pimentel.<\/p>\n
\u201cIt seems [the factory] will be in South Brazil, but I don\u2019t want to say anything in advance because the company itself will make the announcement during its president\u2019s visit to Brazil,\u201d the minister added. Pimentel said BMW has filed a request to adhere to the new auto industry regime. \u201cAfter that, the process will happen quickly.\u201d<\/p>\n
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. <\/p>\n
*Translated by Gabriel Pomerancblum<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"
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