Sofasa to invest up to US$150M in new car manufacturing in Colombia

Sofasa, Renault's Colombian subsidiary, is advancing a plan to invest up to US$150 million to manufacture a new vehicle model, with support from Colombia's Ministry of Commerce to foster local industry and knowledge transfer. The investment signals a notable expansion of automotive production capacity in Colombia, though details on the model, timeline, and employment impact remain unspecified. This could bolster Colombia's manufacturing sector and attract further foreign direct investment.