✅ Get the news from Brasil 247 and TV 247 on the Brasil 247 channel and the 247 community on WhatsApp.Agency Gov – President Luiz Inácio Lula da Silva met with the President of Honda for South America, Arata Ichinose, on Friday (19), at the Planalto Palace.
The meeting was also attended by Vice President and Minister of Development, Industry, Trade, and Services, Geraldo Alckmin, and Chief of Staff, Rui Costa.
The meeting lasted about an hour.President Lula listened to Ichinose’s account of Honda’s presence in Brazil.
The company began operations in the country over 50 years ago, maintaining a motorcycle factory in Manaus that has produced over 30 million units, vehicle production plants in Sumaré and Itirapina-SP, a wind farm in Xangri-La-RS, and an office in São Paulo.
Honda has around R$ 9 billion in investment stock in Brazil, focusing solely on the automotive sector.CONTINUE READING AFTER ADVERTISEMENTIchinose highlighted that the company, committed to completing its transition to renewable energies by 2050, sees ethanol technology as a converging factor with its decarbonization policy.
The executive added that a new hybrid-flex SUV model will be produced in Brazil, to be launched in 2025.Ichinose announced to President Lula Honda’s new investment cycle in Brazil: R$ 4.2 billion between 2024 and 2030, focused on introducing hybrid vehicle technology and developing key supply chains for these models.
With these investments, the company expects to create 1,700 new direct jobs and over 3,500 indirect jobs. The Itirapina factory is expected to start a second production shift as of next Monday (22).
CONTINUE READING AFTER ADVERTISEMENTPresident Lula welcomed Honda’s new investments in Brazil, noting the development brought by the automotive industry and the government’s role in promoting a favorable investment environment, with legal, economic, fiscal, and social stability.
He emphasized the need to offer lower-cost models to serve the large potential market represented by the Brazilian middle class, and mentioned that the average income of Brazilians increased by 11.5% in 2023 (IBGE data), the highest value in 12 years.
Lula also spoke about the significant capacity for exporting vehicles produced in Brazil to other countries in Latin America. He also highlighted Brazil’s commitment to decarbonizing the economy and producing alternative and renewable energies.
“The energy transition is an extraordinary opportunity that we have in Brazil, and Honda will contribute to this,” stated the President. CONTINUE READING AFTER ADVERTISEMENTPresident Lula and Vice President Alckmin signed a commemorative plaque for Honda’s new investment cycle in Brazil.
