RIO DE JANEIRO, BRAZIL - (Reuters) Toyota Motor Corp on Thursday announced a R$1 billion (US$243.29 million) expansion at a plant in the Brazilian state of São Paulo, joining Volkswagen and General Motors in new investments in the region.
Toyota said the funding would allow the Sorocaba plant, which builds the Etios and Yaris sedan models, to produce a new vehicle model. It did not provide details on the new model.
São Paulo state has long been the heart of Brazil's auto industry, which is, in turn, the largest in South America, but it had . . .