GM adds $675 million to Brazil investment plan

General Motors Company

General Motors Company

GM

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SAO PAULO, June 24 (Reuters) - General Motors GM.N announced on Wednesday it would invest an extra 3.5 billion reais ($674.88 million) in Brazil, expanding its commitment to the country's auto industry by 50% and supporting production of hybrid vehicles and factory modernization.

  • The new amount adds to 7 billion reais announced in 2024, bringing GM's total planned investment to 10.5 billion reais until 2028, it said in a statement.

  • The investment will go mainly to the company's operations in Sao Paulo state, the most populated and wealthiest in the country.

  • It will support Chevrolet portfolio renewal, incorporation of new technologies including hybrid models, factory modernization and expansion of engineering and manufacturing capabilities.

  • The initiative will also contribute to generating qualified jobs and strengthening the competitiveness of Brazil's auto industry, the company said.


($1 = 5.1861 reais)


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