RIO DE JANEIRO (AP) -- The Italian automaker Fiat SpA says it will spend $1.8 billion to build a factory in northeastern Brazil.
The president of Fiat Latin America, Cledorvino Belini, signed a contract Tuesday calling for work to begin next year on the plant in the city of Pernambuco.
Belini says the factory will be producing 200,000 cars a year by 2014 and will also house a research and development facility.
Fiat has been making cars in Brazil since 1976, producing mostly for the domestic market.
The president of Fiat Latin America, Cledorvino Belini, signed a contract Tuesday calling for work to begin next year on the plant in the city of Pernambuco.
Belini says the factory will be producing 200,000 cars a year by 2014 and will also house a research and development facility.
Fiat has been making cars in Brazil since 1976, producing mostly for the domestic market.
