GM Announces $2.9 Billion in New Investments in Brazil
Investments will allow GM do Brasil to localize components with Brazilian suppliers, develop new technologies and products
BRASILIA, BRAZIL -- August 15, 2014: – Yesterday, General Motors do Brasil announced to Brazilian President Dilma Roussef that it will 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.
Santiago Chamorro, president of GM do Brasil, said the long-term investment reinforces the confidence the company has in the country.