2023-04-20 19:14:48
A Toyota announced today an investment of US$340 million for the construction of a new hybrid car in Brazil. Although the brand has not revealed the name of the model, everything indicates that it is the long-awaited SUV from the Japanese brand for the B (small) segment.
The announcement along with confirmation of an additional $12 million to upgrade an existing hybrid model (the current Corolla). The two investment announcements were made by Toyota together with the governor of the state of São Paulo, Tarcísio de Freitas, as part of the ProVeículo Verde program, which provides incentives for the production of hybrid and electric cars in the most industrialized region of Brazil.
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340 million dollars for the construction of a new Toyota hybrid in Brazil
The disbursements will create 700 new jobs. The new model (the small SUV) produced at the Sorocaba factory, where it currently produces the current Yaris and Etios. The Etios has not been sold in Brazil for two years and is intended for showroom purposes only.
Toyota did not provide details of this new model, nor did it say whether it will replace any existing product on the Sorocaba production line. The new model launched in 2024. Its hybrid mechanics are made at the Porto Feliz engine plant (also in São Paulo).
Toyota is the only brand – among the Mercosur leaders – that still does not offer an SUV in its lineup for the B (small) segment. This is a market with high volumes of demand and strong competition.
In fact, the Ford brand – leader in the segment with the EcoSport – withdrew and stopped producing this model because it was unable to reach the levels of profitability of its rivals.
In our market and among generalist brands, for the time being there are no hybrid alternatives in the B segment of SUVs. Toyota could be the last to enter this market, but it would become a pioneer in electrification in this niche.
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