General Motors Plans Investment In Brazil To Increase Sustainability Mobility

Chevrolet Bolt EV. (Doc. General Motors)

General Motors, a well-known US automotive company that houses several brands such as Chevrolet and Cadillac, will invest in increasing sustainable mobility in Brazil.

Reported by Reuters on Thursday, January 25, the company intends to disburse funds of IDR 22.5 trillion in Samba countries between this year and 2028.

This number will fund a comprehensive update as well as add to the portfolio of companies in the country with the largest economic level in Latin America and will help develop technology and create new businesses.

However, GM has not yet mentioned the start of production times from electric and hybrid vehicles (EVs) in the country. This decision was taken depending on the evolution of the local market which is quite dynamic.

The announcement was well received by Brazil's President Luiz Inacio Lula da Silva, who focused his efforts on reviving local industries in the country.

It is hoped that the investment will have a significant impact on the development and social inclusion in this developing country. GM's gambling is the first phase of a new cycle in Brazil that aims to strengthen the company's competitiveness and product sustainability.

GM also did not want to reveal the details of this investment. However, they have announced that they will launch six vehicle models in Brazil this year, one of which is a redesigned seven-seater Spin minivan.

The investment plan comes months after workers at various factories in the state of Sao Paulo went on strike, protesting layoffs against 1,245 employees and cuts which were later canceled after a court decision was made.