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GM makes new investment of R$ 700 million in Brazil

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General Motors do Brasil announced today new investment of R$ 700 million (US$386 million) that will be used for the development and production of a new Chevrolet model at the São Caetano do Sul plant, which is located in the state of Sao Paulo. This represents the completion of a GM investment plan of more than R$ 5 billion (US$2.8 billion) within the 2008 through 2012 timeframe.

GM’s long-term strategy in Brazil includes the updating of its current Chevrolet portfolio. GM is also investing to modernize its plants and increase production capacity.

“We have a very strong commitment to Brazil and are confident in the growth potential of the local economy. GM’s long-term investment strategy will enable us to take advantage of market opportunities, offering our Brazilian customers the best cars and trucks with cutting-edge technology, quality and safety,” said Jaime Ardila, President of General Motors do Brasil and MERCOSUR.

According to José Carlos Pinheiro Neto, Vice President of GM do Brasil, “Our strategy is to focus investment on technology, new products and upgrading our plants. We need to keep up with the pace of growth of the Brazilian vehicle market by boosting our share while maintaining a strong financial performance.”

GM Invests More Than R$ 5 billion (US$2.8 billion) in Brazil from 2008-2012:
•    R$ 1.4 billion (US$771 million) – Enlargement of GM’s plant in Gravataí.
•    R$ 600 million (US$331 million) – Development of a new family of vehicles at the GM Tech Center (São Caetano do Sul) and Indaiatuba Proving Grounds.
•    R$ 170 million (US$94 million) – Duplication and upgrade of the Tech Center in São Caetano do Sul and Cruz Alta Proving Grounds (in Indaiatuba), including construction of new labs and test tracks.
•    R$ 2.05 billion (US$1.1 billion) – Modernization of the São Caetano do Sul plant and development of three Chevrolet passenger cars.
•    R$ 50 million (US$28 million) – Expansion and updating of the Mogi das Cruzes plant.
•    R$ 800 million (US$441 million) – Development and production of two new vehicles at the São José dos Campos plant.

GM’s Expansion in Brazil
In 2009, Chevrolet set an all-time record in Brazil with 595,536 vehicles sold and 19 percent market share. The results established GM do Brasil as the third-largest GM operation in the world after the United States and China. In January 2010, GM celebrated 85 years of operations in Brazil.

The Chevrolet portfolio is the largest in the Brazilian market.  It is comprised of 18 models: Celta, Classic, Prisma, Corsa Hatchback, Corsa Sedan, Agile, Astra Hatchback, Astra Sedan, Vectra Sedan, Vectra GT (Hatchback), Omega, Meriva and Zafira SUV, Blazer and Captiva Sport Utilities and the Montana, S10 Single Cab and S10 Crew Cab Pickups.

GM do Brasil has 21,602 employees who are located in three industrial complexes that manufacture vehicles – São Caetano do Sul and São José dos Campos, in the State of São Paulo, and Gravataí, in the State of Rio Grande do Sul – and in other plants in Mogi das Cruzes (factory for stamped components), Sorocaba (Parts Distribution Center) and Indaiatuba (Cruz Alta Proving Ground).

Courtesy: General Motors



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Posted by Naresh Koshti on 4 June, 2010 6:15:12 PM IST #