Automaker General Motors (GM) will invest a combined BRL 4.5 billion ($1.4 billion) at its Sao Caetano do Sul, Joinville and Gravatai plants, located in the cities of same name in the states of Sao Paulo, Santa Catarina and Rio Grande do Sul, respectively, the company said.
The investments are reportedly part of a planned BRL 13 billion investment ($4.12 billion) the automaker intends to make in Brazil between 2014 and 2020. GM said the investments will strengthen its businesses through the development of new products, technologies and innovative manufacturing concepts. It will also foster new suppliers and generate jobs.
The company said the proposed investments will allow it to increase its competitiveness in Brazil at the same time it prepares GM Mercosur to become a global exporting car platform for the brand.