Electric vehicle factory to invest BRL 25 billion in Minas Gerais, Brazil

Argentine Bravo Motor wants to bring an electric vehicle factory to Brazil; 22,000 electric car units are expected to be produced in 2024

Photo: REUTERS/Issei Kato
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Minas Gerais‘ government announced that it is negotiating with the Argentine Bravo Motor to bring a factory of electric vehicles and battery packs to the metropolitan region of Belo Horizonte. An investment of BRL 25 billion is projected.

According to the president of Bravo Motor in Brazil, Eduardo Javier Muñoz, the company’s initial strategy was to open three factories in Brazil – one in Minas, another in the South and another in the North, but the company decided that it should concentrate only in Minas Gerais.

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The electric vehicle plant is expected to begin installation in June 2021 and start operating in 2023. Production for 2024 is expected to be 22,000 units of electric cars and 43,000 units of battery packs.

The BRL 25 billion investment is expected to be made by the end of 2029.

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ArqBravo Group started operating in 2008 in Argentina. In 2019, it created an energy community for the production of batteries, sunroofs, and vehicles in California. In Brazil, it has electric mobility projects in Pará, with a fleet of 1,100 electric vehicles in Belém.

Other investment rounds are planned for other locations in Minas Gerais and include the production of lithium batteries, according to a note released by the government of Minas Gerais.

Translated by LABS.

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