Bloomberg Anywhere Bloomberg Professional About Bloomberg


 
GM to Keep $1 Billion Brazil Investment as U.S. Aid Is Sought

By Alex Ortolani

Nov. 18 (Bloomberg) -- General Motors Corp., the largest U.S. automaker, will continue with plans to invest $1 billion in Brazil while seeking federal aid, a spokesman said today.

The Detroit-based company will use money already earmarked for projects, the spokesman, Pat Morrissey, said in a phone interview. He said GM won't tap any U.S. government assistance, as the Latin American Herald Tribune reported earlier today.

To contact the reporter on this story: Alex Ortolani in Southfield, Michigan, at aortolani1@bloomberg.net;

Last Updated: November 18, 2008 16:48 EST

Sponsored links