President Dilma Rousseff (L) and Mary Barra, GM (R)Brazil – Due to run between 2014 and 2018, the funds will go towards the development of new products, technologies and training as well as component localisation.

“This investment will allow the Chevrolet brand continue to renew its line-up with a focus on technology and quality,” commented Jaime Ardila, president of General Motors South America, adding that the increased nationalisation of components for the cars it makes in Brazil is a “major purpose” of the contribution.

Santiago Chamorro, president of GM Brazil, said the long-term investment shows the confidence the OEM has in the country.