• Categories
  • Archives

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:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazil Drawing Foreign Investment to Renewable Energy

In the ranking of most attractive countries for investment in renewable energy generation Brazil ...

World’s Third Pasta Maker, Brazil Wants to Boost Export of Product

The Brazilian Export Promotion Agency (Apex) and the Brazilian Pasta Association (Abima) signed recently, ...

Brazil Finally Admits It Might Get Stuck on Zero GDP Growth in 2009

Brazilian Foreign Minister Guido Mantega admitted for the first time that Brazil's economic growth ...

41 Brazilians Still Missing in Tsunami Area

The most recent information released by Brazil’s Ministry of Foreign Relations (MRE) indicates that ...

RAPIDINHAS

President Fernando Henrique Cardoso called the march undemocratic since one of its objectives was ...

Brazil Pushes to Give Civil Servants Raise Despite Electoral Law

Brazilian President Luiz Inácio Lula da Silva has asked Minister of Planning, Paulo Bernardo, ...

Brazilians Getting Better Wage Increases

Brazil’s economic growth helped labor unions get better salary adjustments in 2004, according to ...

Brazilian Klabin and Its Big Overseas Plans

The Klabin company is the largest paper and cardboard for packaging manufacturer in Brazil, ...

Brazil Finds Its Water Is Highly Contaminated

The level of contamination of rivers, lakes, and ponds in Brazil is five times ...

How Diadema, Brazil, Cut Murder 68%

The experience of the city of Diadema, located 17 kilometers from downtown São Paulo, ...