Brazilian President Luiz Inácio Lula da Silva, in a speech at the opening of the new GWM factory in São Paulo, emphasized that his country is open to foreign investment.
“Trust the Brazilian government. Those who want to leave can leave, and those who want to come will find us with open arms,” said Lula, also criticizing the 50% tariffs imposed by US President Donald Trump on Brazilian goods, saying it created “unnecessary turbulence.”
Lula stated that he would raise the issue of these tariffs among the BRICS countries (Brazil, Russia, India, China, and South Africa). Despite some manufacturers, such as Ford and Mercedes, reducing their operations in the country, the arrival and investments of GWM were celebrated. The new factory has an annual production capacity of 50,000 vehicles and is expected to create more than 2,000 jobs in the future. Furthermore, Brazil’s automotive sector will gain momentum when exports to Latin America begin. According to industry data, automotive exports will increase by 38.4% to 552,000 units by 2025. GWM’s arrival and investments were celebrated despite some manufacturers, such as Ford and Mercedes, reducing their operations in the country.
