General Motors is focusing heavily on Brazil. The American giant has in fact announced investments of 7 billion reais by 2028 to be allocated to local sustainable mobility and the development of technologies relating to the same area. We are talking about a figure that is around 1.3 billion eurosa nice swag albeit lower than the previous investment of 10 billion reais, therefore around 1.8 billion euros, announced in 2019.
Billionaire deal
The agreement on the amount to be allocated to the development of mobility on the Brazilian market was announced by the President of GM international, Shilpan Amin, who together with the President of GM for South America, Santiago Chamorro, was the protagonist of a meeting with the president of Brazil, Luiz Inácio Lula da Silva. According to what was reported by Ansa, all of the group's local production plants will benefit from this huge investment: in fact, there is talk of potential evolutions that will make them more modern, agile and sustainable.
Renewal of the range
Clearly we are not just talking about the modernization of production processes: the sum mentioned above will also be sufficient to finance a complete renewal of the range of vehicles that the US giant offers in the largest economy in Latin America, but also to contribute to the development of technologies and to creation of new activities. The announcement of this strategic operation follows last month's announcement that GM would cut 1,245 jobs in the country through a voluntary layoff program (later canceled after a court decision).
Electrification in due course
As for electrification, General Motors has not provided a forecast for when it will start producing vehicles electric and hybrid in the South American country, simply stating that this decision will be made based on the evolution of the local market. Not only the GM management team but also President Lula are satisfied with the agreement, convinced that the investment will have a significant impact on the development and social inclusion.
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