The plant is located in the center of the country and has not received any major expansion since it was inaugurated in 1998.
Eduardo Souza Ramos, the Brazilian company’s chairman, announced a $450million investment in the factory. The project is the most important ever to be implemented and will be completed by 2015.
Relying on its own financial sources, the importer will bring the plant’s annual output to almost 100,000 units, hoping to reach a market share of 2 percent by the time the development is completed. Brazil’s auto market is expected to reach 5 million vehicles per year by then.
The plan will see Mitsubishi passenger cars be assembled in the country for the first time. The first model assembled at Goias will be the Lancer, which is scheduled to enter the market in 2012. This will be followed by the Pajero Sport SUV that uses the L200 Triton chassis, which has been assembled in the country for the last three years.
The complete Brazil-assembled model list also includes the TR4 compact SUV (this is known as the Pajero iO or the Shogun Pinin in other markets) and the L200 pick-up.
Brazil could become the world's fourth largest automotive market this year, overtaking Germany, as the country’s economy has experienced a spectacular increase lately. Last year, 3.1 million vehicles were sold in the country.
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