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GM Doubles Investment in Brazil, Names New Chief for South America
General Motors Co. says it will spend $3.8 billion in Brazil double the target it announced a year ago to deliver a new generation of vehicles equipped with more security, fuel efficiency and connectivity features.
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General Motors Co. says it will spend $3.8 billion in Brazil double the target it announced a year ago to deliver a new generation of vehicles equipped with more security, fuel efficiency and connectivity features.
The spending is part of the four-year, $5 billion program GM announced earlier this week to develop a new family of inexpensive Chevrolet-brand vehicles for emerging markets. The new cars will be produced in Brazil, China, India and Mexico.
GM also announced that Jaime Ardila, president of GM South America, is retiring after a 29-year career with the company. His replacement is Barry Engle, currently CEO of Agility Fuel Systems Inc., a California-based supplier of natural gas fuel systems for heavy trucks and buses.
Engle previously headed Ford Motor Co.'s Brazilian unit and is a past president of Mercosul, the South American trading bloc that includes Argentina, Brazil, Paraguay, Uruguay and Venezuela. He also is a former president of New Holland Agricultural Equipment in Turin, Italy, and a past Chrysler-Plymouth-Jeep dealer in Salt Lake City.
In his new role, Engle will be responsible for GM operations in Argentina, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay and Venezuela. He will report to GM President Dan Ammann.
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