GM will invest US$500 million in its operations in Argentina and Brazil for the development of a new generation of small vehicles for emerging markets. The investment also includes the expansion of GM’s Brazilian product development center.
The investment includes two major elements:
Development of a new family of small vehicles that will be built in Argentina and Brazil and sold emerging markets. This will include upgrades to GM’s plants in Rosario, Argentina and São Caetano do Sul, Brazil. It also includes product development work to be done at the GM Brazil product development center in São Caetano do Sul.
Expansion of GM’s product development center in Brazil, including a new engineering building in São Caetano do Sul and new equipment and infrastructure to support the growing role of GM Brazil in the company’s global product development process.
Through the first two quarters of 2007, GM sales in Brazil and Argentina are up 18 and 16 percent respectively versus the same period in 2006. Both GM Argentina (75,000) and GM Brazil (410,000) set all-time sales records in 2006.