Business

Grow, owner of the brands Grin and Yellow, plans to invest BRL 25 million in Brazil

Yellow and Grin plans to invest BRL 25 million in Brazil
  • The new factory will be located in the city of Manaus
  • The company estimates an investment of BRL 25 million addressed to infrastructure and to start production

Alternative means of transport have won in the Brazilian market. It’s true that in the beginning, the bike and scooter-sharing business model was received with skepticism by Brazilians, but if Yellow or Grin had something to prove, they definitely have. 

Grown, the owner of Grin and Yellow companies, plans to open their own factory in Brazil to start producing vehicles in the country, which could lead to a reduction in importation, according to the Brazilian media outlet Folha de S. Paulo

The project will be presented today (Jul 25) in a meeting with Suframa’s Administrative Counsel, and if it’s approved, the company’s estimated investment of BRL 25 million will be addressed to infrastructure and to start the production by the second semester of this year and the beginning of 2020.