Chinese Tech Giant Huawei to Invest $800 Million in Its New Brazil Factory

Chinese Tech Giant Huawei to Invest $800 Million in Its New Brazil Factory

Chinese tech giant Huawei Technologies Co Ltd is planning to set up a new plant in the Sao Paulo state situated in Brazil and the expected cost for this is $800 million. This plant is expected to reach its completion stage in the next three years. We all know that very recently Huawei faced a ban on the United States of America.

Sao Paulo Governor João Doria during a trip to China with the executive committee of Huawei said that the plant is built in order to fulfill the demands of Brazil including Brazil’s first 5G spectrum auction, which is going to be held on March 2020.

The plant will be used for smartphone manufacturing; in a mail, to Reuters, the company said that in the local market as per the capability and performance of the smartphone operation, in Sao Paulo, Huawei will be considering to build a plant in the near future.”

The smartphones manufactured there would be used to meet the foreign as well as domestic demand for smartphones, as stated by Sao Paolo government. It should also be a known fact that Huawei is already active in Brazil with one factory that produces products for telecom infrastructure in Sao Paulo state. This factory as of now has 2,000 workers.

The investment of $800 million would not be done in one go but over a period of three years which is followed by the 5G spectrum plan. According to Doria, the new plant will provide employment to 1,000 people.

Moreover, in April, a report that was made by Reuters had specified that the company is planning to take a good hold of the Brazilian smartphone market by launching two new high-end smartphones. Huawei with no doubt has become the third-biggest smartphone manufacturer across the globe.

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