General Motors makes huge investment in Brazil
Date added: 23rd March, 2010 at 09:44
(view all articles from March, 2010)
Categories: Economy
General Motors has announced it is to make a huge investment in Brazil to increase production of its vehicles.
The company stated that the investment in Brazil will be worth £519 million, with as much as £1.8 billion invested by 2012.
Two new vehicles will be produced at the company's Sao Jose dos Campos Complex in Sao Paulo
They will be targeted at Brazilian consumers and also exported around the world.
According to Jaime Ardila, the president of General Motors in the Latin American country, the investment in Brazil will "increase production capacity and totally renew our portfolio of Chevrolet vehicles in Brazil".
Almost 600,000 Chevrolet vehicles were sold in 2009, which represents a market share of 19 per cent.
General Motors already employs more than 21,000 people in South America and that number could be set to increase as a result of the investment in Brazil.
More than 200,000 people around the world are employed by the carmaker, which produces well-known brands such as Vauxhall, Opel and Buick.
Related Articles
Indian drug company makes investment in Brazil
Date added: 19th March, 2010 at 12:10
(view all articles from March, 2010)
Investment in Brazil 'number one in world'
Date added: 19th March, 2010 at 09:23
(view all articles from March, 2010)
BP makes investment in Brazil
Date added: 15th March, 2010 at 09:07
(view all articles from March, 2010)