General Motors to spend $1 billion from bailout... in Brazil
From this:General Motors plans to invest $1 billion in Brazil to avoid the kind of problems the U.S. automaker is facing in its home market, said the beleaguered car maker.
According to the president of GM Brazil-Mercosur, Jaime Ardila, the funding will come from the package of financial aid that the manufacturer will receive from the U.S. government and will be used to "complete the renovation of the line of products up to 2012."
"It wouldn't be logical to withdraw the investment from where we're growing, and our goal is to protect investments in emerging markets," he said in a statement published by the business daily Gazeta Mercantil.
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Tue, 02/10/2009 - 00:18 · Importance: 4
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why not? after all GM Made over 47 billion in oversea deals and car selling in 2007 most made in south america