General Motors to invest 2.7 billion dollars in Brazil
General Motors plans to invest 10 billion reais (2.65 billion dollars) in two of its Brazilian plants to build several new products over the next five years.
The investment is expected to occur on a rolling basis for vehicles, which will launch from 2020 through 2024 and be sold in South America.
The significant investment will help GM build a sustainable business in Brazil leveraging the Chevrolet brand according to GM spokesman Dan Flores.
The investment will mean 15,000 jobs will remain at the São Caetano do Sul and São José dos Campos plants in São Paulo state.