Ford Motor Co. (NYSE: F) CEO Alan Mulally announced plans to expand its Brazilian investments by increasing funding for its “Ford Brazil” subsidiary from $2.2 billion to $2.4 billion between 2011 and 2015.
The investment is the largest single amount that Ford has invested in its Brazilian operations in a given five-year period during the company’s 90-years of operations in the country. The increased investment in the country will also raise the Detroit, MI-based company’s investment in South America to U.S. $3 billion through 2015.
As part of its investment, Ford will be developing a new global vehicle, entirely developed in the Engineering Center of Camacari, which is located in northeast Brazil. The model, the Ford EcoSport small SUV, will be produced both locally and for export markets. For the first time, the Brazilian-engineered vehicle will be produced for use globally.
“Developing truly global vehicles and platforms is a key part of our ONE Ford plan,” Mulally said. “Ford Brazil already has demonstrated its skill in creating great vehicles, and with such a strong team in place at our engineering center in Camacari, we’re pleased that customers around the world will benefit from that.
“Ultimately, our goal is to offer customers in every part of the world a full family of exciting Ford vehicles – small, medium and large cars; utilities and trucks – with best-in-class safety, quality, fuel efficiency, smart design and value,” he added.
