General Motors has announced a $240 million investment to build a new engine plant in the Argentina in addition to its recent investment of $450 million for the production of a new global model in the region. To date, GM has invested $740 million in Argentina.
The announcement was made at a government event by GM president Dan Ammann and president of GM South America Jaime Ardila with Argentinian Chief of Staff Jorge Capitanich and Industry Minister Débora Giorgi in attendance.
Argentina will be responsible for manufacturing a new Euro 6-certified aluminium engine. The plant will have an output of 90,000 engines per year, with 10,000 units going to the European Union annually.
In 2012, then CEO of GM Dan Akerson announced the company would invest $450 million between 2013 and 2015 to expand its Rosario Automotive Complex in order to build a new Chevrolet vehicle for South America and other emerging markets.