BRASILIA, BRAZIL – Today, 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.
General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. GM’s brands include Chevrolet and Cadillac, as well as Baojun, Buick, GMC, Holden, Jiefang, Opel, Vauxhall and Wuling. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com.