Brazil Billionaire Batista Wants To Launch Car Manufacturer

online.wsj.com

RIO DE JANEIRO (Dow Jones)--Brazilian billionaire businessman Eike Batista wants to add to his ventures in oil and gas, transportation and mining with the creation of a car manufacturer.

Batista wants to partner with another automaker to build a Brazilian car with international knowhow, Batista told reporters Wednesday, speaking on the sidelines of the Rio Oil and Gas conference.

If it goes ahead, Batista said the first car could roll off the production line in four years, and the company could churn out 100,000 cars per year. Most of the cars would run on electric power, he said.

-By Jeff Fick, Dow Jones Newswires; 55-21-2586-6085; jeff.fick@dowjones.com

(Matthew Cowley in Sao Paulo contributed to this article.)

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