GM Announces New $1.4 Billion Investment Cycle In Brazil
4
Sponsored Links
GM has just officially announced its next cycle of investments in Brazil, the largest and most commercially strategic country in South America.
The automaker announced that it will invest 7 billion Brazilian reais (about $1.4 billion at current exchange rates) in its plants and operations in Brazil to completely renew the portfolio of locally designed Chevrolet vehicles, to develop innovative and personalized technologies, and to create new businesses in the region. This amount corresponds to the first phase of the next investment cycle between 2024 and 2028.
The official announcement was made by GM’s head of international operations as well as South America executives on January 24th in the city of Brasilia, during a meeting with the President of the Republic of Brazil, Luiz Inácio Lula da Silva. In addition to the new generation of internal combustion engine (ICE) vehicles produced locally, the investment will also allow help expand the portfolio of ICE and electric vehicles imported from North America.
Santiago Chamorro, Shilpan Amin, Luiz Inácio Lula da Silva
“With our long history and investments for the future, Brazil is a critical market for our growing GM business,” said General Motors Senior Vice President and President of GM International, Shilpan Amin. “Brazilian motorists continue to confirm Chevrolet as their most-loved brand. Our products continue to perform strongly, and we see great opportunities in the future for our domestic and imported vehicles, OnStar connectivity and other businesses,” he added.
In particular, GM affirms that this next cycle of investments in Brazil marks the beginning of the biggest transformation period in the history of the company and the Chevrolet brand in the country – celebrating its 100th anniversary in Brazil next year. As such, the new investment aims to reinforce the company’s level of competitiveness as well as the sustainability of its operations and products both in the Brazilian territory and throughout the South American region.
Without giving details, General Motors executives said sustainable mobility is the main focus of the next investment cycle in Brazil. “On the technology side, our local product development team is delivering world-class innovation, and we know that customers are tech-savvy, early adopters eager to embrace electrification, in line with the country’s predominantly clean energy matrix,” Amin finished.
Subscribe to GM Authority as we bring you the latest GM Brazil news, GM South America news, and ongoing GM news coverage.
Sponsored Links
Acontece que no Brasil, temos uma elite corrupta (leia congressistas, judiciário e empresários), usurpadores, que é o atraso do país. Temos empresários mesquinhos e avarentos que não abrem mão de escravização da mão de obra. Por isso, os salários são baixos e toda vez que criam crises é exatamente para tirar mais dos salári9os dos trabalhadores. Por isso que se vende poucos bens duráveis no país. Principalmentes automóveis.
When are you people going to make skid plates for the Vr2 Desert boss available like on the 2024 bison? I bought this desert boss with the hope of off roading. However with out the oil pan, fuel tank and differential protection this can’t happen. Jon nelson
O fato é que 1.4 bi de dolares nada é muito, Em 4 anos isso quer dizer 350 mi ao ano, este valor é somente para atualizar ferramental de modelos mais atuais projetados na China como Equinox e substituir modelos mais arcaicos como Cruze, onix e Spin no seu facelift etc. Nada há de incrementar ou aumentar a industria local nem recontratar 1100 demitidos em 2023
The fact is that 1.4 billion dollars is nothing much, in 4 years that means 350 million per year, this value is only to update the tooling of more current models designed in China such as Equinox and replace more archaic models such as Cruze, onix and Spin recent facelift etc. T’re is nothing to increase or increase local industry or rehire 1,100 laid-off people in 2023
Damn shame.
Invest in American Mary Barra