STXNEWS LATAM-Fiat to invest $7.5 bln in Brazil through 2016

Mon May 6, 2013 5:24pm EDT

Italian carmaker Fiat announced a 15 billion reais ($7.5 billion) investment plan in Brazil through 2016 after CEO Sergio Marchionne met with Brazil's President Dilma Rousseff on Monday.

The company said the plan would create 7,700 new jobs and that it entailed expanding productive capacity and building new factories in Brazil, the world's fourth-largest buyer of new cars and a key growth market for the world's biggest automakers.

($1 = 2.009 reais)

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