Brazil Rides with Stellantis
By 2030, Stellantis plans to introduce more than 40 new vehicles and hybrid-flex models in Brazil. The company responsible for brands such as Jeep, Dodge and Fiat has committed $6.07 billion over the next five years, marking the largest automotive investment in South America. “This announcement solidifies our trust and commitment in the future of the South American automotive industry and is a response to the favorable business environment here,” said Stellantis CEO Carlos Tavares. “As a critical part of our ‘third engine’ growth strategy, South America will take a leading role in accelerating the decarbonization of mobility together with our employees, our supply chain network and our partners.” The investment will equip Stellantis sites with bio-hybrid technology, combining electrification with hybrid engines powered by biofuels on three different levels with plans to produce battery electric vehicles in years to come.
Fiat is Stellantis’ No. 1-selling brand in South America.
Photo courtesy of Stellantis
The investment from Novartis aims to tackle rising demand in the Asian biotherapeutics market.
Photo courtesy of Novartis
Doing More in Singapore
In March 2024, biopharmaceutical manufacturer Novartis broke ground on a $256 million expansion of its 22-year old Singapore site. The project brings in new digital and automation solutions that will increase productivity and improve operational efficiency while providing upskill training to its current workforce. With the extra space Novartis will produce therapeutic antibody drugs as operations begin in 2026. The investment will create 100 new jobs.
Europe’s Top 10 Best Cities 2024
Global consulting firm Resonance analyzed more than 180 cities throughout Europe and found the top 100 destinations for tourism, residence and business in 2024. Resonance came to these conclusions based on overarching factors such as livability, lovability and prosperity. (See how some of them performed in the Global Best to Invest rankings on p. 53 of this issue.)
Committed to Decarbonization
Northern Spain’s coastal city of Gijón was selected at the location for a 1.2-megawatt pilot hydrogen production plant that will allow for further research into hydrogen recovery processes. Hydrogen Hub Asturias (H2Asturias), the over $7 million private-public partnership project led by ArcelorMittal, broke ground on its facility in March 2024 and is expected to be operational in 2027. Some of the partners within H2Asturias include H2Vector Energy Technologies, the University of Oviedo and the Carbon Science and Technology Institute. Of the total project investment, a little over $5 million comes from public funding. The “GasLab” will use innovative technology to process and test multiple types of industrial gases with a goal of learning more about decarbonization.
Decarbonization research at this processing facility will be used to inform ArcelorMittal’s steel facilities in Spain.
Photo courtesy of ArcelorMittal
Andhra Pradesh is set to gain the world’s largest quartz-to-module facility.
Photo: Getty Images
A First For India
Over the next five years, Indosol Solar is investing $155 million in what the company is calling the world’s first fully integrated quartz-to-module manufacturing plant. The project lands on 30 acres in the village of Ramayapatam within India’s southern state of Andhra Pradesh. Here the company will produce 500 megawatts of fully automated solar PV modules, solar cells and ingot wafers. Of the five phases of build-out, 1A is anticipated to be complete by December 2024, introducing the initial 5MW of capacity. Total capacity will be reached in 2028, creating 800 new jobs.
Shin-Etsu is expanding its semiconductor materials portfolio with a fourth location in Japan’s Gunma Prefecture.
Photo: Getty Images
New Base For Growth
After considering several potential sites, semiconductor materials manufacturer Shin-Etsu Chemical Co. decided Japan’s Gunma Prefecture would land its 1.6-million-sq.-ft. manufacturing and R&D project. The $547 million investment will bring a new manufacturing facility and establish a research and development base in Isesaki City for Shin-Etsu’s semiconductor lithography materials business. This site will produce photomask blanks, ArF photoresists and other critical semiconductor components to enable the company to meet rising demand. Construction will take place in several phases, with the first phase to be complete in 2026.
