 Founded in 1992 by the businessman Eike Batista and headquartered in Pouso Alegre, Minas Gerais, JPX produced an adapted version of the French Auverland sport utility vehicle.Batista's inexperience in the automaking industry and a series of mistakes led to the closing of the company in 2002, being the first failed venture of the billionaire, once the eighth-richest man in the world.Batista's aim was to develop a utility vehicle to serve his mining company activities, as well as the Armed Forces and the general public.