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General Motors to invest $385 million in Brazilian plant

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General Motors to invest $385 million in Brazilian plant

Felipe Frisch / Bloomberg

Sao Paulo -- General Motors Co. said today it plans to invest roughly $385.25 million in Brazil's Sao Caetano plant to develop a new Chevrolet model.

The company's total investment in Brazil from 2008 to 2012 may surpass $2.75 billion, which was initially planned by the company for the period, GM said in a statement distributed to reporters in Sao Paulo.

From The Detroit News: http://detnews.com/article/20100531/AUTO01/5310371/1148/auto01/General-Motors-to-invest-$385-million-in-Brazilian-plant#ixzz0pXbPCKAr

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