The company’s focus on new product initiatives positions it well for future challenges and opportunities in the global automotive market.

Ground tests for the prototype are slated to begin in July.

Brazil became China’s second-largest export destination for all cars in April, trailing only Russia, which retained its top spot.

The Equatorial Margin basin is a potential bonanza as it shares geological similarities with nearby Guyana, where Exxon Mobil is developing oil fields.