Renault to Invest EUR162 Million in Brazilian Plant Between 2014-2019
April 17 2014 - 11:51AM
Dow Jones News
By Noemie Bisserbe
PARIS--Car marker Renault SA (RNO.FR) said Thursday it planned
to invest 162 million euros ($224.1 million) over the next six
years at its Curitiba plant in Brazil to develop new vehicles and
lift sales.
The group will also invest an additional EUR78 million over the
next 10 years to help set up a new distribution center to supply
Renault's 275 outlets in Brazil and other markets, said Renault in
a statement.
Renault has been producing cars in Brazil for the past fifteen
years. The French group is targeting an 8% market share in the
country by 2016, up from 6.7% at the end of March.
Write to Noemie Bisserbe at noemie.bisserbe@wsj.com
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