GM Announces Billion-Dollar Investments in São Paulo State

Late last year, GM threatened to leave the country, stating that it was facing a 'critical moment' and did not intend to 'continue to employ capital to lose money'.

By Lise Alves, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – Giant automaker General Motors announced on Tuesday it will invest R$10 billion in two plants in São Paulo state, after state governor, João Doria, announced tax incentives to be given by the state government to automakers that expand business in São Paulo.

"Last year we had a very serious problem, which was our factories in the state of São Paulo. We were looking for solutions that would make our factories viable," said General Motors Mercosur President Carlos Zarlenga, during a press conference in the governor . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?