MG announces $4.5 bn investment plan for electric vehicle factory

The government of Minas Gerais announced on Friday that it has signed a protocol of intent with Bravo Motor for an electric vehicle and battery pack factory in the metropolitan region of Belo Horizonte, with an expected investment of R$ 25 billion ($4.5 bn). New phases of investment are planned for other regions of Minas, with production of lithium batteries, said the Minas Gerais government in a statement.

Source: Money Times