On April 12, local time, Midea's new factory in Brazil, Midea Industria do Brasil (hereinafter referred to as MIDB), with an investment of more than 700 million yuan, was officially laid, which is expected to be completed and put into operation in July 2024.
The new MIDB plant in Pouso Alegre, Minas, has an area of more than 70,000 square meters and an annual production capacity of 1.3 million units. The factory will incorporate a large number of digital production technologies and innovative technologies, and the first batch of smart refrigerator products will be put into production and sold in July next year. In addition to supplying the local market, the products will also be sold to other markets in South America.
The Mayor of Bausso, Renato Andrade Garcia, attended the groundbreaking ceremony and thanked Midea for his confidence in the city's development. Garcia said that the investment will definitely bring new economic growth points to the city of Bausso and further promote the development of the local community. In order to cooperate with Midea's investment, the government of Baosuo is accelerating the construction of local infrastructure, hoping to attract more large international enterprises like Midea and bring more employment opportunities to the local people.
Garcia also said that Midea, one of the world's largest home appliance manufacturers, is building its third factory in Brazil in Bausso. After it is officially put into production next year, it is expected that Midea will bring more choices of smart home appliances to the Brazilian people, improve the quality of life of local consumers, and meet their yearning for a better life. At present, Midea operates in more than 200 countries and regions, and has been ranked among the Fortune Global 500 for many years.
Wang Jianguo, Vice President of Midea Group, President of Smart Home Business Group, and President of Midea International, said at the groundbreaking ceremony that this factory is Midea's first investment in Baosuo City, covering refrigerators, washing machines and other household appliances. He also said that Midea aims to become one of the leading brands in the refrigerator industry in Brazil within four years.
Felipe Costa, CEO of MIDB, said that the new plant in Brazil will effectively improve Midea's competitiveness locally. Midea is full of confidence in the Brazilian market and will further strengthen its investment layout in Brazil in the future.
Brazil is the largest white goods market in South America and one of the largest in the world. As one of the important overseas strategic markets, Midea currently has two factories in Brazil, one in Manaus, which produces household air conditioners and microwave ovens, and the other in Canoas, which produces commercial air conditioners.
Global breakthrough is one of the four strategic axes of Midea Group. As a company with global operations, Midea provides products and services to about 500 million users around the world, as well as important customers and strategic partners in various fields every year through the integration of global resources. At present, Midea has about 200 subsidiaries around the world, about 30,000 overseas employees, business covering more than 200 countries and regions, and 22 settlement currencies. In the past two years, Midea's overseas market revenue has accounted for more than 40% of the company's total annual revenue.