French automaker Renault will invest $285 million to expand its factory in Brazil and boost production as part of a sales offensive in Latin America’s largest economy, Chief Executive Carlos Ghosn announced on Wednesday.

Ghosn is in Brazil to launch a major expansion of theRenault-Nissan Motor Co Ltd partnership’s productionthat it hopes will double its share of vehicle sales in Brazilto 13 percent by 2016.

The new investment at the Renault plant in the southernstate of Parana will boost production capacity there to 380,000vehicles per year by 2013, Ghosn said at a news conference inthe city of Curitiba. The plant currently has a capacity ofabout 250,000 vehicles, Ghosn told Reuters this week.

Source: Reuters

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