GM To Invest $240 Million In Brazil, Creating 1,500 Jobs
January 28, 2004
(Dow Jones)- General Motors Corp. in Sao Paulo plans to invest $240 million in a plant in Brazil, creating 1,500 jobs. The company plans to use the factory to build and export a car starting 2006. The model isn't yet known. The carmaker wants to increase the plant's production to 210,000 vehicles a year, up from its current level of 120,000. The factory is based in the southern state of Rio Grande do Sul and already employs 2,500 people.