GM Invests $450 Million in Argentina image

GM announced its plans to invest $450 million in its Rosario Automotive Complex, Argentina, to manufacture an all-new global Chevy car.

“We are pleased to be making this investment in Argentina, which remains a very important market for us,” GM Chairman and CEO Dan 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.”

The investment at the Rosario Automotive Complex will be made between 2013 and 2015. Last year the Rosario plant manufactured more than 136,000 vehicles, and this investment will add new vehicles for export and new models to be added in Chevrolet’s portfolio for customers and dealers in Argentina.

According to GM this new model will be based on a global platform and will give the automaker the possibility to offer the domestic and regional market more high-quality, high value Chevrolet products. Last year GM Argentina sold 136,323 units, manufactured 136,466 units and exported 82,492 vehicles to countries in the region. The Rosario Automotive Complex has 3,300 employees in Alvear and Buenos Aires.

  • Michelle

    Dan Akerson, GM CEO, was appointed by Obama. Akerson is the one suggesting another $1 tax hike on gasoline. This is why we need a business man with some basic math skills running the country.

  • spiff

    Ah, yes. US taxpayer bailout to help the Argentinians get jobs.

  • Bob Higginbotham

    Government motors has not seen fit to reemburse the citizens of the USA for the billions of dollars they owe through TARP. However; they are happy to basically give money offshore. Maybe they should take some of that money to reembuse the many thousands that they screwed, both non-union pensioners and bond holders. GM and Obama did this to placate and make sure the parasitic UAW did not suffer any monetary setback.

  • matt

    are you kidding me ?? this is tax payer money!!