Categories

A sample text widget

Etiam pulvinar consectetur dolor sed malesuada. Ut convallis euismod dolor nec pretium. Nunc ut tristique massa.

Nam sodales mi vitae dolor ullamcorper et vulputate enim accumsan. Morbi orci magna, tincidunt vitae molestie nec, molestie at mi. Nulla nulla lorem, suscipit in posuere in, interdum non magna.

Chinese-Saudi carmaker plans Brazil’s first hybrid car plant

SAO PAULO: Chinese-Saudi carmaker Amsia Motors has signed a preliminary deal to build the first auto factory in the Brazilian state of Sergipe, where it plans to invest 1 billion reais ($457 million) on a plant focused on hybrid and electric vehicles.
Amsia, which is backed by the Saudi Eram group and works in partnership with German, British, Canadian and Chinese carmakers, would be the first manufacturer with a factory in Brazil dedicated to electric cars.
Though most of Brazil’s auto industry is focused in the country’s southeast region, the poorer northeast has recently attracted the attention of car manufacturers, following strong economic growth in the region.
Fiat SpA is building its second Brazilian factory in Pernambuco, while China’s JAC Motors is setting up a plant in Bahia, the same state where Ford Motor Co. has a new plant.
Prince Faisal Al-Saud, Amsia’s main investor, arrived in Brazil recently with Amsia CEO Mustafa Ahmed to confirm the final details of their agreement with the Sergipe government.
More arabnews.com

Share

Leave a Reply