SAO PAULO – Chery President Yen Tongyao says he’s upbeat about Brazil’s maturing automotive industry. “Our plan is not just to manufacture cars, but to innovate in Brazil,” he says. Yen’s comments came as he visited Brazil to launch Chery’s factory in Jacarei, 50 miles (80 km) from Sao Paulo, where the Chinese auto maker plans to produce the Fulwin model. Chery expects to generate 1,200 to 1,500 jobs at the new plant. Its rival JAC also is investing heavily in Brazil, buying ...

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