Japanese multinational automaker Toyota will invest 1.6bn reais ($315.2m) to produce a new hybrid-flex compact vehicle at its Sorocaba plant in the Brazilian state of São Paulo, state governor Tarcísio de Freitas announced on April 19.

It will be the biggest investment to benefit from the state government’s ProVeículo Verde programme, which incentivises automakers to develop greener vehicles through tax credits. Toyota will also update another hybrid-flex model with an additional investment of 61.8m reais. 

The firm’s Brazilian subsidiary is currently the only automaker with its entire manufacturing operation located in São Paulo, with 6000 employees. The flex-hybrid engine, which consists of one combustion and one electric engine, will be assembled at a separate engine plant in Porto Feliz and is expected to come to market in 2024. 

Rafael Chang, president of Toyota do Brasil, said in the government’s statement: “Toyota believes in the Brazilian market and continues to invest in technology and innovation to meet consumer needs”. 

Jaguar Land Rover set to invest £15bn

Jaguar Land Rover (JLR), a British carmaker and subsidiary of Tata Motors, said in a statement on April 19 that it will invest £15bn over five years as it ramps up electric vehicle production across the UK.

The company announced that its Halewood plant in Merseyside will become its first all-electric production facility. The first of its next generation, medium-size modern luxury SUVs will be an all-electric model from the Range Rover family and will launch in 2025. 

On top of this, its engine manufacturing centre in Wolverhampton will also have electric drive units and battery packs for JLR’s next generation vehicles. Adrian Mardell, JLR CEO, said in a statement announcing the news that “this investment enables us to deliver to our modern luxury electric future, developing new skills, and reaffirming our commitment to be net-zero carbon by 2039”.

Yageo bets on North Macedonia 

Taiwanese electronics manufacturer Yageo will invest more than €205m over the next ten years in North Macedonia to expand its operations in Europe, the company said in an announcement on April 18.

During an investment agreement ceremony in Taipei, North Macedonia’s prime minister expressed his thanks via video to the Taiwanese company. “It’s confirmation of the good economic policies that we are leading and the stable investment climate that we are creating in the country,” he said. 

“With strategic geographical position, stable monetary and favourable tax environment, and highly qualified workforce with competitive labour costs, North Macedonia is an ideal location for Yageo Group to continue to expand its business scale in Europe,” Yageo’s founder and chairman, Pierre Chen, said in a statement.

With new plants planned in development zones in the cities of Skopje and Stip, Yageo’s investment is expected to create 3900 new jobs. 

And finally: Kazakhstan plans to launch 170 new investment projects worth roughly $2.2bn, according to an announcement on April 19 by prime minister Alikhan Smailov.