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LatinNews Regional Monitor: Brazil & Southern Cone - 22 May 2019

In brief: Brazil

* Swedish vehicle manufacturer Scania, which specialises in heavy trucks and buses and is owned by the Volkswagen Group, has announced that it will invest R$1.4bn (US$347m) in its São Bernardo do Campo plant in Brazil’s São Paulo state between 2021 and 2024. The São Paulo state government notes that this investment will be additional to the R$2.6bn that Scania has been investing since 2016. São Paulo’s state governor, João Doria, praised the investment, saying it will “generate more jobs, more revenue, more technology and give a vote of confidence in São Paulo, in São Bernardo do Campo and in Brazil”. The news comes just a few months after US manufacturer Ford confirmed it would be closing its São Bernardo do Campo factory and exiting the heavy truck business in South America, costing the country thousands of jobs.