Number of new models planned
16 July 2009

General Motors is planning a major expansion into emerging markets like China and Brazil following its emergence from bankruptcy protection.

Over $1bn (£610m) will go into developing two new car models for the South American country, potentially creating 1000 jobs.

Twitter - follow autocar.co.uk

China is also expected to get its own inexpensive model that will arrive before 2011.

This will be backed up to six other GM models, with Buick and Chevrolet badges, being launched in China within the next two years.

GM has seen record sales in Brazil and the car maker sees it as a key market for expansion.

Half of the investment is said to be coming from GM and the other half from loans and state-run banks.Last week GM was reborn as a new company after it ended its 39-day stay in bankruptcy protection.

The company’s chief Fritz Henderson described the announcement as a “new beginning” for the troubled car maker.

Under the terms of the sale, GM will now be 60.8 per cent owned by the US treasury.

The new GM will be focused around its four key brands – GMC, Buick, Cadillac and Chevrolet – while other unwanted assets will be left behind in bankruptcy court to be sold off or liquidated.

See all the latest Chevrolet reviews, news and video

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Hyundai Kona
    First Drive
    18 October 2017
    Hyundai's funky-looking Kona crossover with a peppy three-cylinder engine makes all the right noises for the car to be a success in a crowded segment
  • Citroën C3 Aircross
    First Drive
    17 October 2017
    The Citroen C3 Aircross has got funky looks and a charming interior, but it's another small SUV, and another dynamic miss. Numb steering is just one thing keeping it from class best
  • Skoda-Karoq 2.0 TDI 4x4
    First Drive
    16 October 2017
    Diesel version of Skoda’s junior SUV is unobtrusive and undemanding, but we’d still go for the silkier petrol version of the Karoq
  • Audi Q7 e-tron
    First Drive
    16 October 2017
    Expensive and flawed but this understated diesel-electric Audi Q7 has a lot to offer
  • Citroën C3
    First Drive
    16 October 2017
    Is the third gen Citroën C3 ‘fresh and different’ enough to take on its supermini rivals? We spend six months with one to find out