Japanese carmaker Honda's automobile production and sales subsidiary in Brazil, Honda Automoveis do Brasil (HAB), is planning to invest BRL100m ($49.29m) its automobile R&D division through the next two years.
The investment, aimed at strengthening the R&D facilities and equipment, involves construction of a new facility by the end of 2013.
Being invested as part of Honda's initiative to reform its global operations, the move will strengthen the carmaker's local R&D capability in Brazil.
Commencing from 2014, HAB is planning to refurbish its small car lineup that includes the Fit and the City, as well as unveil a new compact SUV model for the Brazilian market.
Honda has also unveiled the new FIT twist crossover for the Brazilian market at the 27th S?o Paulo International Motor Show 2012 in Brazil.
The carmaker is also planning to launch the Acura brand in Brazil in 2015.
