GM seeks furhter expansion in Brazil
- 5 months ago
General Motors Co has stated that it is reviewing its decision to invest $2.73 billion in Brazil as it would depend on the returning to profit, adding that it is due to complete an investment plan of $ 3.5 billion.
Additionally, it is also rumoured that the automaker is in talks to invest $2.5 billion within the state of Sao Paulo over the next 3 years.
GM chief executive for Mercosul, Carlos Zarlenga, said “As market leaders, we are taking on the responsibility of facing the challenges of competitiveness that the industry is experiencing in order to make a sustainable future possible for our businesses and the proper return to shareholders.”
“We continue to work with unions, dealers, suppliers and the government in order to enable this new and additional 10 billion reais investment in the factories of São Caetano do Sul and São José dos Campos.”
Source: Smart Trend Team