Japanese automaker Nissan Motor is moving to grow its presence in South America by expanding in Brazil. The firm says it will increase its investment in the country up to over 570 million dollars through 2025, which would be more than double the amount announced in April last year.
Nissan President and CEO Uchida Makoto made the announcement on Tuesday during a visit to the company's factory in the state of Rio de Janeiro.
Uchida said the firm is boosting investment in the country to build new cars for the region. Nissan will produce two new sports utility vehicles at its Brazil factory.
It also plans to export them to more than 20 countries in South and Central America.
Japan's Toyota Motor and Chinese electric-vehicle maker BYD have also announced plans for new investment in Brazil.