Investment exceeds 700 million!Midea's new Brazilian factory has officially laid the foundation stone and is expected to start production in July next year.

[Gearbest News]For home appliance companies, Brazil is a very potential market. It is precisely because of its importance that many domestic home appliance companies have business layout in the country. According to Gearbest, as a leading home appliance company, Midea has even opened a factory in Brazil. Official news shows that Midea's new Brazilian factory officially laid the foundation stone recently, with an investment of over 700 million yuan.

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According to Midea’s official Weibo, the new Midea Industria do Brasil (MIDB) factory in Brazil, which invested more than 700 million yuan, has officially laid the foundation stone and is expected to be completed and put into operation in July 2024. The new MIDB factory located in Paoso, Minas State, covers an area of ​​more than 70,000 square meters and has an annual production capacity of 1.3 million units. In addition to its large scale, this factory is also highly intelligent. It will incorporate a large number of digital production technologies and innovative technologies. The first batch of smart refrigerator products will be put into production and rolled off the production line in July next year, and will be put on the market simultaneously.

Renato Andrade Garcia, mayor of Paso, said at the groundbreaking ceremony that as one of the world's largest home appliance manufacturers, Midea's construction in Paso is its third factory in Brazil. After it is officially put into production next year, we look forward to Midea bringing a richer selection of smart home appliances to the Brazilian people.

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 Paoso City, covering refrigerators, washing machines and other home appliances. He also said that Midea's goal is to become one of the leading brands in the Brazilian refrigerator industry within four years.

Data shows that Midea currently operates in more than 200 countries and regions, and has been among the Fortune Global 500 for many consecutive years. In addition, Midea has approximately 200 subsidiaries around the world, 20 R&D centers and 18 major production bases overseas, with approximately 30,000 overseas employees, and its business covers more than 200 countries and regions. In the past two years, Midea's overseas market revenue has accounted for more than 40% of the company's total annual revenue.

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