General Motors has announced that it will invest $450 million in its Rosario Automotive Complex in Argentina between 2013 and 2015. The cash will go toward tooling up for an all-new Chevrolet product to be exported globally. Details concerning what that new vehicle could be or where exactly it will be sold are nil, though GM said it will be based on a current global platform and that it will serve both regional and domestic markets.
All told, the Rosario plant built 135,000 vehicles last year, and the influx of cash will help expand that operation considerably. You can check out the brief press release below for more information.
GM to Invest $450 Million in Argentina
CEO Dan Akerson and Argentina President Announce New Chevy Vehicle
BUENOS ARIES, Argentina – General Motors will invest $450 million between 2013 and 2015 to expand its Rosario Automotive Complex to build an all-new global Chevrolet vehicle, Chairman and CEO Dan Akerson said Wednesday.
Akerson was joined by Argentina President Cristina Fernández de Kirchner; GM South America President Jaime Ardila; and GM Argentina President Isela Costantini.
"We are pleased to be making this investment in Argentina, which remains a very important market for us," Akerson said. "We have a long, proud history here dating to 1925 and our latest investment is certainly good news for our GM Argentina employees, our extensive dealer and supplier network and the local economy.
"We also have an excellent relationship with the Argentine government and would like to thank President Fernández de Kirchner for her ongoing support in making today's announcement possible," Akerson said.
GM Argentina produced a record of more than 136,000 vehicles at its Rosario facility in 2011. The upcoming expansion of the plant will allow GM Argentina to add new vehicles for export and to continue refreshing the Chevrolet vehicle portfolio for dealers and customers in Argentina.
"This new model to be based on a global platform will run in addition to the models we are currently manufacturing in our plant and will allow us to supply the regional and domestic market with even more high-quality, high value Chevrolet products," Costantini said. "It is a huge vote of confidence for the entire GM Argentina team and the country."