(Posted on Mar 30, 2019 at 02:29PM by Danielle Smyth)
Have you heard the news? Brazil automaker CAOA has signed an agreement with Ford over a plant purchase. According to the report, “Brazil has long been South America's automaking hub and has led many brand name global carmakers to set up shop here. But CAOA is the rare company that is actually domestically owned. It currently produces cars for Hyundai and owns a 50 percent stake in China's Chery operation in Brazil, which led to the rebranding of the cars as CAOA Chery.”
CAOA has a very close relationship with Ford, in that it is the single largest distributor of Ford vehicles in the nation of Brazil.
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