Chinese well-known home appliance maker Midea Group held a groundbreaking ceremony on April 12 for its new plant in Brazil, marking the company's big move in the expansion of its footprint in the South American area. The plant so called Midea Industria do Brasil (Hereinafter referred to as MIDB) is expected to put into operation in July 2024.
Chinese home appliance maker Midea Group held a groundbreaking ceremony on Thursday for its new plant in Brazil.
With total investment of more than 700 million yuan ($101.8 million), the new factory covering an area of over 70,000 square meters is expected to reach an annual production capacity of 1.3 million units.
The company said the new factory, located in Pouso Alegre in Brazil, will integrate digitization and innovative technologies in its production line, and its first batch of intelligent refrigerators will be on sale by July 2024. The products will be sold to Brazil and other South American markets.
Mayor of Pouso Alegre, Renato Andrade Garcia attended the groundbreaking ceremony and appreciated for Midea's investment. Garcia said the investment will surely bring new pole of economic growth to the city and further drive the development of local communities.
Wang Jianguo, vice-president of Midea Group and president of Midea's smart home business group, said the factory is Midea's first investment in Pouso Alegre. The new factory in Brazil will effectively enhance Midea's competitiveness in the local market.
Brazil is the largest white goods market in South America. As one of Midea's important strategic overseas markets, the company has two factories in Brazil, one in Manaus producing household air conditioners and microwave ovens, and another one in Canoas making commercial air conditioners.
Reporter | Eleanor
Revisor | Eddie, Tang