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.
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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."


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  • 296 Comments
      Jack Strong
      • 2 Years Ago
      wtf we need jobs here not in another country- take care of americans first
      chefnilges
      • 2 Years Ago
      IS THIS *&$# FOR REAL.. THE GOVERNMENT BAILS THEM OUT SO THEN CAN INVEST OVERSEES. SERIOULSY WTF!!! HOW IS THIS EVEN POSSIBLE. IF THATS THE CASE, THEN PAY OUR COUNTRY BACK FOR BAILING U OUT, THEN U CAN GO WHERE EVER. NOW IM EVEN MORE PROUD TO DRIVE A FORD!! WHAT $$ DID THEY TAKE?? A &^%$#@# PLANT IN ARGENTINA.. AND WE WONDER WHAT WRONG WITH THIS COUNTRY.
        Carlos
        • 2 Years Ago
        @chefnilges
        Do ANY of the commenters here - including yourself - have any idea of how automakers operate? Ford, GM, Toyota, VW, Hyundai, etc, have plants all over the world to supply the local markets. Ford makes the Focus and Ranger here in Argentina. Coca-Cola bottles drinks locally everywhere. I don't see anybody whining about that.
      vinh111
      • 2 Years Ago
      Why there are no democrats here? yeah vote for Obama then will be no job left in USA.
        calderasf
        • 2 Years Ago
        @vinh111
        So saving the auto industry created no jobs or saved any really? These are cars they would never be built in US to begin with. Would you prefer a non us company to build these car and take their profit back to their country or a US company to do it.
      M5_4_life
      • 2 Years Ago
      So many idiots as usual in a GM thread.
      Jo
      • 2 Years Ago
      In August, Forbes.com said, "President Obama is proud of his bailout of General Motors. That’s good, because, if he wins a second term, he is probably going to have to bail GM out again. The company is once again losing market share, and it seems unable to develop products that are truly competitive in the U.S. market. Right now, the federal government owns 500,000,000 shares of GM, or about 26% of the company. It would need to get about $53.00/share for these to break even on the bailout, but the stock closed at only $20.21/share on Tuesday. This left the government holding $10.1 billion worth of stock, and sitting on an unrealized loss of $16.4 billion. Right now, the government’s GM stock is worth about 39% less than it was on November 17, 2010, when the company went public at $33.00/share. However, during the intervening time, the Dow Jones Industrial Average has risen by almost 20%, so GM shares have lost 49% of their value relative to the Dow. It’s doubtful that the Obama administration would attempt to sell off the government’s massive position in GM while the stock price is falling. It would be too embarrassing politically. Accordingly, if GM shares continue to decline, it is likely that Obama would ride the stock down to zero." Romney was right, the President doesn't spend tax money on winners or losers, he finances losers and then lets them ship jobs out of the country on our dime. GE (General Electric) did the same thing after getting bailout $, they sent their entire medical imaging market over to China. If I saw the President at the race track I'd make sure to bet a different horse than him every time.
        drdave901
        • 2 Years Ago
        @Jo
        I am expecting the delivery of my free (or paid for with bailout money) Chevy Volt any day. Every home should receive a Volt paid for by the government. We all need our version of the communist Europe Trabant. http://www.time.com/time/specials/2007/article/0,28804,1658545_1658533_1658030,00.html
      • 2 Years Ago
      [blocked]
      hello
      • 2 Years Ago
      why do we let tax payers money go there thats bs. they should build more plants here for us workers and if they say money then tell the union to cough it up.
        don_johnson15
        • 2 Years Ago
        @hello
        You can thank Obama for all of this.
        calderasf
        • 2 Years Ago
        @hello
        What tax payer money? We own stock in GM as they build their brand worldwide this stock will go up to where the gov. will sell it and get all it's money back. We are not loaning them any money anymore. Where do you get all this wrong info from?
        susan
        • 2 Years Ago
        @hello
        Thank the man at the top....bet he has his fingers in the pie somewhere, as if he was for American workers they wouldnt need to be living on government aid and food stamps.. It was never the American way...until he came to Washington DC....If he really cared he would have kept GM in the USA as he complains about sending jobs to China and South America. He signed 70,000 jobs for S Korea, Columbia and Panama earlier this year.....and he bashes those that want to keep the work at home...
      Aphidavis
      • 2 Years Ago
      I have to wonder how much Obammi is stealing from us for this fiasco?
        Sabot
        • 2 Years Ago
        @Aphidavis
        He isn't stealing anything, he is just paying off campaign debts and favors with the taxpayers money!
        • 2 Years Ago
        @Aphidavis
        [blocked]
      Angie
      • 2 Years Ago
      For all those that think that GM repaid the loan, with Interest.....keep in mind that the government still owns 500 MILLION shares of GM stock, that right now if they sold them, would cost the taxpayers an additional about $26 a share. Do the math. If GM goes bankrupt AGAIN, the Taxpayers are out an additional $13 BILLION.
      Escalonz
      • 2 Years Ago
      Just great. We could use that plant right here in the states so to hell with GM and I'll never buy another vehicle from them again. Obama, where are you as you were part of this saving the auto industry?
      adika3z
      • 2 Years Ago
      ' what about america, no need foreign
      David & Patty
      • 2 Years Ago
      This is what GM has done with Obama's bailout money that Obama brags so much about? Jobs taken overseas and half a billion dollars to be spent in Argintina? Where's Obama on all this?
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