1 Min Read
(Reuters) - General Motors Co (GM.N) said it will invest $450 million to expand production in Argentina and launch a new Chevrolet model in late 2015.
GM declined to reveal details on the new car, other than to say it will be based on a global platform and will supplement local production of the Chevrolet Agile and Classic.
The new Chevrolet, which is slated to go into production at GM's Rosario plant in October 2015, will be sold in Argentina and exported to other markets in the region.
GM's latest investment is part of a broader plan to expand its presence in Argentina and neighboring Brazil, where the automaker earlier this week unveiled its new Chevrolet Onix compact.
GM plans to introduce 12 new Chevrolet models in Argentina over the next three years, including the Onix, the Cobalt and the Trailblazer, a GM spokesman said.
Reporting by Paul Lienert in Detroit; Editing by Dan Grebler