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BMW: Brazil has solid foundations to resume growth

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Oliver Zipse, member of the Board of Directors of German automaker BMW, said on Thursday ( Nov.30) that Brazil has “solid foundations” to resume economic growth and develop further in the coming years. Zipse, along with other BMW executives, attended a meeting in Brasilia with President Michel Temer and Industry, Foreign Trade and Services Minister Marcos Pereira.

“As soon as the economic development of Brazil is resumed, we are confident that the automotive industry will also react (…) And with the right steps, with the current low inflation rate, Brazil has solid foundations to make this progress possible in the future”, he said after the meeting.

BMW has a factory currently in operation in the city of Araquari (state of Santa Catarina), and intends to continue investing in the country. “In 2013, we made a big investment and built a BMW-owned factory in Araquari. Since then, we’ve had a good relationship with the federal government […] and would like to continue with this cooperation,” said Zipse.