GM, Suppliers To Invest $500 Million In Argentina To Produce New Model

www.oann.com | 10/26/2015 | Staff
marika (Posted by) Level 3
BUENOS AIRES (Reuters) – General Motors Co and its suppliers will invest a total of $500 million in Argentina operations through 2019 to prepare to produce a new Chevrolet model in 2020, the company said in a statement on Thursday.

The company will invest $300 million while its supplier network will invest $200 million at the Alvear plant in Argentina’s Santa Fe province. The company invested $740 million in the plant between 2014 and 2016.

Investment - Announcement - Production - Latin - America

The investment announcement comes as automobile production in Latin America’s No. 3 economy begins to rebound, following a sharp decline amid recessions last year in Argentina and neighboring Brazil, a major export destination.

Attracting investment from major multinationals like GM is...
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