An official decision by the company will be made shortly following the examination of 26 locations for the plant including in Sao Paulo.
Wage costs and other favourable aspects played a decisive role in the choice of Santa Catarina, an article in Automobilewoche said.
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Another local source with knowledge of the situation said the plant would make three BMW models and a MINI model.
Brazil's auto industry saw sales climb 2.9% last year, less than the 4.2% growth expected by Fenabrave and the 5% growth forecast by auto maker association Anfavea, the daily O Estado de S. Paulo reported, quoting industry sources.
O Estado said Italy's Fiat remained the leading market brand in Brazil last year, selling 754,276 vehicles (22%), followed by Germany's Volkswagen with 698,404 (20.4%), the US-based General Motors with 632,259 (18.4%), Ford with 314,016 (9.2%) and France's Renault, with 194,294 (5.7%).
In terms of manufacturing, Brazil is the sixth-biggest vehicle producer in the world, sources said.
-Bernama
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