General Motors Bets $5 Billion on Emerging Markets Future


General Motors has seen the future. And it ain’t here.

Not exactly, anyway. The nation’s largest automaker still is bullish on the U.S. and other “mature” markets, but the company is announcing today it will invest $5 billion to develop a new, wide-ranging vehicle architecture to enhance the competitiveness of its mainstream Chevrolet brand in the world’s primary emerging markets.

The single new vehicle “platform,” and an all-new engine to accompany it, will replace several current platforms that serve as the foundation for a variety of vehicles GM currently sells in markets such as China, India, Brazil and Mexico, said GM president Dan Ammann in a media conference. Although the new vehicle platform will be able to span perhaps several vehicle size classes, all the vehicles will be relatively small by U.S. standards. The first model derived from the new architecture is targeted for the 2019 model year.

Continue reading at: Forbes

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