Huawei Technologies Co Ltd plans to build an $800 million plant in Brazil's...
SAO PAULO - Huawei Technologies Co Ltd plans to build an $800 million plant in Brazil’s Sao Paulo state over the next three years, the governor said, as the Chinese telecom giant ramps up its presence in Latin America despite U.S. objections.
Huawei already has one factory in Sao Paulo, which employs 2,000 people directly. Huawei will decide on the location of the next factory in the coming months and expects to invest the $800 million over a three-year period after the 5G auction is completed, the governor added in a statement. Initially, handsets would be imported from China, but the world’s third-largest smartphone manufacturer was mulling local production.
Rivals noted that Huawei is under particular pressure to step up its presence in emerging markets like Brazil and Russia given that it has been shut out of the United States, noting that the Chinese company looked likely to reap tax breaks from Sao Paulo state.
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