Renault-Nissan to invest $1.8 bn in Brazil

The Renault-Nissan joint venture is investing nearly $1.8 billion in Brazil, in a bid to grab market share in Latin America's largest economy.

Renault-Nissan currently has a combined market share of 6.5 per cent in Brazil and the  alliance aims to acquire a combined market share of at least 13 per cent of the rapidly expanding Brazilian market by 2016.

Nissan will invest $1.5 billion to build a new plant in Resende and develop new vehicles for Brazil, while Renault will invest $285 million to expand plant in Curitiba in the state of Parana.

The Renault-Nissan Alliance will bring out nearly two dozen new models specifically adapted to Brazilian consumers' needs as part of the alliance's aggressive Brazilian offensive.

Nissan will spend $1.5 billion to construct an all-new manufacturing facility and to develop, industrialise and launch new products in Resende, in the state of Rio de Janeiro.

The all-new Nissan factory, scheduled to begin production in the first half of 2014, will have the capacity to produce up to 200,000 units annually and will create up to 2,000 jobs at the plant.