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Chinese carmakers JAC and Chery to open factories in Brazil

Xinhua quoted Mr Fernando Pimentel Brazilian Industry Minister as saying that Chinese carmakers JAC and Chery will open factories in Brazil.

JAC's plant will be in Camacari in the northeastern state of Bahia and construction will start on November 28th 2012. The plant is to be operational by late 2014. Chery's factory will be in Jacarei in Sao Paulo.

Also, Brazil announced a new program that gives four year tax breaks to manufacturers of economy cars.

Source - Xinhua

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