A Toyota announced this Wednesday (19) which is investing BRL 1.7 billion to produce a compact vehicle with flexible hybrid technology capable of running on battery, petrol or ethanol.. The launch took place at the Bandeirantes Palace, seat of the São Paulo state government, in a ceremony attended by Governor Tarcio de Freitas (Republicans).

The automaker estimates that the investment will create about 700 direct jobs at the company’s factories in Porto Feliz (Spain) and Sorocaba (Spain). The vehicle must be exported to 22 countries.

With an estimated production cost of R$ 1.63 billion for the new flexible hybrid compact car, R$ 61.8 million will also be contributed to upgrade another flexible hybrid model. This is the largest investment planned under the ProVeículo Verde program, launched in March last year by the government of São Paulo.

Toyota retains roots in Brazil

Toyota was the first automaker in Brazil to launch and produce a flexible-fuel hybrid vehicle: the Corolla sedan in 2019. Today, the Japanese automaker has an estate version with this engine, the Corolla Cross.

By joining the ProVeículo Verde program, Toyota will be able to use accumulated Goods and Services Tax (ICMS) credits according to a predetermined calendar as the equivalent of the investment it will make.

“This is a historic day for Toyota and the state of São Paulo. These investments will create jobs, income and decarbonise Brazil.“, – said the president of Toyota do Brasil Rafael Chang.

According to Tarcisio de Freitas, flexible hybrid technology is the great calling of the automotive industry right now. He emphasized that soon the next step will be with hydrogen, and Sao Paulo will be the leader in this.

“This is a happy, fun day and announce the investment. There is a powerful tool to regain trust, and that is commitment. We are committed to growing, developing São Paulo, restoring competitiveness, accelerating operations and creating jobs. And in general, on the economic issue, we think, in the end, about jobs and people. That’s why our government is 3D: development, dignity and dialogue, it’s fundamentalTarcisio said.When we mark the next investment, we understand that we are going in the right direction” added the governor.

Toyota’s investment announcement comes about a year after the Japanese automaker closed its São Bernardo do Campo (SP) plant, which produced parts supplied to other divisions in Brazil and Argentina.

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Source: Government of Sao Paulo.

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