Listen Live

Current Weather

Stellantis to announce $500 million investment in Rio plant -sources


RIO DE JANEIRO (Reuters) – Stellantis is expected to announce investments of up to 2.5 billion reais ($508 million) in its plant in Rio de Janeiro state on Friday, sources from the Brazilian city’s government told Reuters.

The announcement will take place at a ceremony at the Guanabara Palace, the Rio state government’s headquarters, and the funds are part of an investment cycle that ends in 2025.

“They will announce the company’s new investment plan and a new vehicle that will be manufactured at the Porto Real plant,” said one of the sources.

The new model is the C3 AirCross, a seven-seat SUV. It is the second announced within the current investment cycle, which should also include one more vehicle. The first was the compact C3, launched in 2021.

A second source said the investment includes the development of a platform at the plant that will enable the manufacture of the three models.

($1 = 4.9172 reais)

(Reporting by Rodrigo Viga Gaier; writing by Peter Frontini; editing by Steven Grattan and Jason Neely)

Brought to you by