General Motors invests $500 million to  strengthen South American footprint

Rick Wagoner, General Motors Chairman and CEO, announced that the company will invest $500 million in its operations in Argentina and Brazil for the development of a new generation of small vehicles for Latin America and other emerging markets. The investment also includes the expansion of GM's Brazilian product development center.

GM's plant in Rossario, Argentina

The investment includes two major elements:

Development of a new family of small vehicles that will be built in Argentina and Brazil. This will include upgrades to GM's plants in Rosario, Argentina and Sao Caetano do Sul, Brazil. It also includes product development work to be done at the GM Brazil product development center in Sao Caetano do Sul.

Expansion of GM's product development center in Brazil, including a new engineering building in Sao Caetano do Sul and new equipment and infrastructure to support the growing role of GM Brazil in the company's global product development process. "With the improved economic environment in Argentina and Brazil, we are proceeding with our next phase of investments to support our continued growth in Latin America and around the world," Wagoner said.

"GM has a rich history in the Mercosul region, and we look forward to continuing our growth for many years to come."