Home » Business » Autotalk Special
GM to invest $2.8 billion in Brazil in 5 years
Print Edition
GENERAL Motors Co will invest 6.5 billion reais (US$2.8 billion) in Brazil over the next five years, Chief Executive Officer Mary Barra said, reaffirming the automaker’s long-term plans despite a sharp downturn in the local market.
Speaking to reporters in Brasilia, Barra said capital spending will be focused on new products and technologies, as well as plant maintenance. “We recognize that there are challenges right now, (but) over the midterm and long term we see great prospects in the Brazilian market,” Barra said.
Brazil’s auto industry, which makes up one-fifth of the country’s manufacturing output, has slashed production by 16 percent in the first seven months of the year and laid off thousands of workers as the economy stagnates.
GM and a metalworkers union outside of Sao Paulo are at loggerheads over plans to place some employees at a local factory on paid leave. The union has said the plans could threaten the jobs of 1,000 workers.
The union said it will hold GM to the promise of increasing investment at Sao Jose dos Campos plant. At a press conference, Barra did not mention labor issues.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
