Chinese automaker unveils Brazil factory plan

Chinese automaker JAC Motors (Jianghuai Automobile Co.) announced Monday it will invest $900 million to build a factory in Brazil.

It will be the Asian company's first assembly plant outside of China and have the capacity to produce 100,000 units, the company said in a statement.

After four months on the market in Brazil, JAC Motors accounts for less than one percent of auto sales in the country, said auto importer Sergio Habib.

The investment will be made by the parent company in China together with the SHC Group, which represents the brand's business in Brazil.

The company said it had not decided where to build the factory or what model will be produced.

AFP

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