GM to invest $2.9B in Brazil operations
General Motors Co. said Thursday it plans to invest $2.9 billion in Brazil over the next five years.
The automaker made the announcement to Brazilian President Dilma Rousseff while GM CEO Mary Barra was visiting GM’s operations there.
GM said the investment would help develop new cars and technologies, train employees and localize components with Brazilian suppliers.
“This investment will allow the Chevrolet brand to continue to renew its line of automobiles with a focus on technology and quality,” Jaime Ardila, president of General Motors South America, said in a statement.