GM Spends US$ 500,000 in Brazil and Argentina on New Breed of Small Cars

GM Brazil factory in Rio Grande do Sul General Motors (GM) announced today, July 18, that it will be investing US$ 500 million in its operations in Argentina and Brazil. The funds will be used to create a new family of small vehicles for emerging markets, and to expand the GM technology center in Brazil.

The new family of vehicles will be manufactured in the two South American countries. The investment should be used for factory improvements and modernization in the cities of Rosário, in Argentina, and São Caetano do Sul, in the southeastern Brazilian state of São Paulo.

The expansion of the technology center in Brazil includes the construction of a new building for engineering in São Caetano do Sul, purchase of new equipment, and improvements in infrastructure.

"In the face of the marked improvement in the economic situation in Argentina and Brazil, we are starting a new phase of investments aimed at supporting ongoing growth in Latin American and around the world," said the chairman and president at the General Motors Corporation, Rick Wagoner, in a press release issued by the company.

GM's sales in Latin America have been increasing. In the first half of 2007, the company's sales in Brazil and in Argentina have grown, respectively, by 18% and 16%, compared with the same period of last year.

Both the sales of GM Argentina (75,000) and GM Brazil (410,000) reached all-time highs in 2006. The company is the world's leading vehicle manufacturer.

Anba

Tags:

You May Also Like

Brazil’s Lula Tells Bush G8 Needs to Lead Stalled WTO Talks

President Bush and Brazilian President Luiz Inácio Lula da Silva have agreed to continue ...

Brazil Ready to Boost Gas Prices

Brazil’s state-owned oil giant Petrobras reports that growing demand for gas may mean a ...

And the World for All

If, to minimize the risk of leaving it in the hands of Brazilians, the ...

Brazil’s Petrobras Spreads the Riches and Boosts Small Businesses

For a little over three years now, more than 2,000 micro and small businesses ...

Books and films about the music and culture of Pernambuco

TerminologyBy Jeff Duneman Maracatu de baque virado, maracatu de baque solto, frevo, coco, ciranda, ...

Venezuela-Brazil Great South Gas Pipeline Will Include Bolivia

During the summit, Thursday, May 4, in the city of Puerto Iguazu, in Argentina ...

Protest in São Paulo, Brazil, against US President Bush

Battle for Brazil and LatAm’s Good Will Was Fought and Lost on Bush’s Watch

President Bush is back from his seven-day trip to Latin America. Hoping to dispel ...

Greenpeace Urges in Brazil Ban on Terminator Technologies

Greenpeace called upon the 188 states at the 8th meeting of the Convention on ...

Politicians in Brazil Respond to Criticism by Burning Journalist’s House

Criticism by Brazilian journalist Jeso Carneiro to local politicians was answered with fire by ...

December 1994

CONTENTS: Cover story: The army goes up the hill in Rio (p. 8) Adjusting ...