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GM to invest $1 billion in Russian operations within 5 years

A worker walks behind a logo of General Motors after the announcement of the closing of the Opel assembly plant in Antwerp January 21, 2010. REUTERS/Francois Lenoir

A worker walks behind a logo of General Motors after the announcement of the closing of the Opel assembly plant in Antwerp January 21, 2010.

Credit: Reuters/Francois Lenoir

MOSCOW | Wed Aug 29, 2012 3:12am EDT

MOSCOW (Reuters) - General Motors (GM.N) plans to invest $1 billion over the next five years to expand cars and components production in Russia, one of the fastest-growing car markets in the world, its head of international operations Tim Lee said.

The company, which produces cars at three sites across Russia in St. Petersburg, Togliatti and Kaliningrad, will invest part of the money to increase capacity, Lee said on Tuesday evening ahead of an auto show in Moscow. (Reporting by Gleb Stolyarov; Writing by Katya Golubkova; Editing by Douglas Busvine)
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Comments (1)
Numb3rTech wrote:
GM, just do not forget to pay everything you owe back to the taxpayers that bailed you out before you start spending too much money where the United States will not get money back from.

Aug 31, 2012 4:59am EDT  --  Report as abuse
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