After revealing a new investment in its Gravataí in Brazil in early July, GM will announce new details of its investment strategy in the South American country next week.
The automaker has scheduled an event next week at the Technology Center of the GM São Caetano do Sul complex in Brazil, where it will make a “corporate announcement” highlighting new details of the investment cycle in the South American country for the 2024-2028 timeframe. The event will take place on September 4th and will feature the participation of global representatives of the company, as well as the governor of the Brazilian entity.
According to Auto Industria, the company’s global leaders who will participate in the investment announcement in Brazil next week are GM Executive Vice President and President of Global Markets Rory Harvey, and GM Senior Vice President and President of GM International Shilpan Amin. The head of the international subsidiary met earlier this year with Brazilian President Luiz Inácio Lula da Silva during the general investment announcement.
Both executives will be welcomed by GM South America President Santiago Chamorro and company regional Vice President Fabio Rua, who will be the main hosts of the event at the São Caetano do Sul facilities – where the South American subsidiary’s corporate headquarters are located. GM is expected to reveal the investment amount and some details of its operations in the Brazilian state of São Paulo.
In particular, the company is expected to announce a significant investment for the GM São Caetano Do Sul plant that will include adjustments to the factory’s production lines, which will soon build the refreshed Chevy Tracker. In addition, the investment announcement may also include an amount for development work on Chevy’s upcoming compact crossover for Brazil reported by GM Authority earlier this month.
GM’s investment announcement next week in Brazil’s São Caetano do Sul is part of the first phase of an ongoing R$7 billion (about US$1.4 billion) investment cycle, with which the company will optimize its core manufacturing operations and renew the portfolio of Chevrolet vehicles developed in the country. GM still plans to announce an additional amount corresponding to the second phase of the investment cycle in Brazil.
Subscribe to GM Authority as we bring you the latest GM São Caetano do Sul plant news, GM Brazil news, and ongoing GM news coverage.
Comment
Would it be awesome if GM would STOP trying to invest BILLIONs of dollars into other countries that way maybe just maybe the prices of auto’s they make here could see a drop in price and stop sticking it to Americans because they see a market in 3rd world countries that don’t have a pot to piss in much less could afford a American luxury vehicle. Just saying !