General Motors (GM) to invest USD2.8 mil. in Brazil by 2018
Look to raise the percentage of localisation of the components.
General Motors (GM) chief executive officer Mary Barra has committed to investing 6.5 million reais (USD2.8 billion) in the automaker's Brazilian operations over the next five years. Although specific details were not provided, she said the investment would go to developing new products and technology and maintaining plants. Barra was speaking to reporters after a meeting with Brazil's president, Dilma Rousseff, reports Automotive News. Barra thanked the president for extending the tax cuts that were set to expire in July,as well as efforts to ease credit availability.
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