Jialing Group, based in China's Chongqing Municipality, plans to invest 40 million yuan ($4.97 million) to build a factory in Brazil capable of producing up to 100,000 units per year.
Jialing has made no less than five inspection tours of the Brazil market, and another mission will go to Brazil at the end of this month to finalize the project, the Chongqing Daily newspaper reported, citing sources within the company.
Jialing most recently invested in two other foreign facilities. The company spent 24 million yuan on a facility in Indonesia with an annual production capacity of 500,000 units, and 12 million yuan in Columbia on a facility with an annual capacity of 300,000 units.
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