GM Makes $5 Billion Chevrolet Bet to Expand in Emerging Markets
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General Motors Co. is investing $5 billion to expand its Chevrolet lineup to gain market share and boost profits in emerging markets including Brazil, China, India and Mexico.
The project involves developing cars with Chinese partner SAIC and replacing many of GM’s existing subcompacts and compacts that are sold in emerging markets starting in 2019, President Dan Ammann said. The two companies expect to sell as many as 2 million vehicles a year through 2030, GM said.