GM to double Brazil investment through 2019

Wednesday, Jul 29, 2015

General Motors Co (GM.N) plans to double its investment in Brazil to 13 billion reais ($3.8 billion) through 2019 and introduce a new family of vehicles into the country, the U.S. carmaker's executives said on Tuesday.

Speaking at a press conference in Sao Paulo, Jaime Ardila, the head of GM in South America, said the company's investment in Brazil would be aimed at developing new technologies and products, not in increasing capacity.

Earlier on Tuesday, GM announced it will invest $5 billion over the next several years to develop with its Chinese partner a new family of Chevrolet vehicles aimed at fast-growing emerging markets.

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