Peugeot to expand production in Rio de Janeiro
Date added: 19th January, 2010 at 09:00
(view all articles from January, 2010)
Investment in Rio de Janeiro's automotive industry could be encouraged by news that Peugeot is set to increase its productivity in the city.
The French firm is currently the fifth-biggest car manufacturer in the Latin American country. Its annual output - which stood at 110,000 vehicles in 2009 - is set to be boosted by 32 per cent with the creation of 700 new jobs in Rio.
President of PSA Peugeot Citroen in Brazil, Vincent Rambaud, told the Wall Street Journal that the jobs will help to reinforce its "capacity to meet market demand and the launching this year of two new locally made Peugeots".
This news comes after US carmaker Ford announced a new investment in Brazil which will see engines for its Fiesta car built in the country.
In recent times, Ford has revealed a total of four billion reais (£1.4 billion) worth of projects to increase its output across Brazil.