Brasilia, Brazil - 14 August 2014 - General Motors plans to invest $2.9 billion (USD) in Brazil from 2014 to 2018. The investments will help fund the development of new products, technologies and employee training, in addition to localizing components with Brazilian suppliers.
"This investment will allow the Chevrolet brand continue to renew its lineup with a focus on technology and quality. Another major purpose of this contribution is to raise the percentage of nationalization of the components of the cars made in Brazil, in an action that also involves suppliers installed in the country,” said Jaime Ardila, president of General Motors South America.
General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries. GM’s brands include Chevrolet and Cadillac, as well as Baojun, Buick, GMC, Holden, Jiefang, Opel, Vauxhall and Wuling.
Source: General Motors