FRANKFURT Oct 28 German automotive group
Daimler will invest around 1 billion real ($458
million) in its two Brazilian commercial vehicle plants between
2014 and 2015, the company said on Monday.
"The financing will be placed mainly in research and
development of new products and innovative technologies, as well
as in process optimisations and modernization of the two
production plants Sao Bernardo do Campo (Federal State Sao
Paulo) and Juiz de Fora (Federal State Minas Gerais)," it said
in a statement.
Since 2010, Daimler has so far already invested around 1.5
billion real in the production of trucks, buses and components
at the Brazilian locations.
Daimler's luxury car business Mercedes-Benz recently
announced it would invest initially around 170 million euros to
build a new factory near Sao Paulo that would manufacture the
C-Class mid-size and the GLA compact crossover for the local
($1 = 2.1835 Brazilian reals)
(Reporting by Christiaan Hetzner)