São Paulo – General Motors is investing R$ 6.5 billion (US$ 2.8 billion) by 2018 in its activities in Brazil. The investment was announced this Thursday (14th) by CEO Mary Teresa Barra to the Brazilian president Dilma Rousseff at a meeting in Brasília.
According to information from Agência Brasil, the investment will go to new products, improvement of existing models, new technologies and maintenance at plants. Barra said she thanked the president for the measures implemented to increase vehicle production, such as the lowered Tax on Industrial Goods (IPI, in the Portuguese acronym). Barra also said she and Rousseff discussed measures to streamline the industry.
“We are announcing a new R$ 6.5 billion investment for the next five years. We have been in Brazil for nearly 90 years, there are medium- and long-term challenges, but we will stay,” the executive said.
*Translated by Gabriel Pomerancblum
