General Motors stuck by Brazil, even as executives had seconds thoughts on its multi-billion dollar investments in the country as the economy slumped and new vehicle sales fell sharply. Today, the Brazilian economy has rebounded, and GM initiated its next investment into the country’s operations.
GM announced on Tuesday that it will invest another $368 million (R $1.2 billion) to renovate and expand the Industrial Complex of São Caetano do Sul. The investment will see the demolishing of older buildings to pave the way to new, state-of-the-art facilities complete with modern industrial technology.
Annual capacity at the complex will increase from 250,000 vehicles per year to 330,000 vehicles. The Industrial Complex of São Caetano do Sul builds several Chevrolet vehicles for the Brazilian market including the Cobalt, Onix, Spin and Montana.
GM Brazil was keen to highlight the sustainability aspect of the construction plans. The razed buildings’ rubble was used to construct the new facilities and the company installed the auto industry’s largest solar heating system with 1,800 feet of solar panels.
Upon completion, the industrial complex will expand to cover over 4,650,000 square feet. The latest investment is also part of GM’s ongoing commitment to invest $4 billion total by 2020 in Brazil.