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GM Korea to Invest over 1 Trillion Won Per Year
Date
2012.10.25
Views
951
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The South Korean unit of U.S. carmaker General Motors Co. plans to invest more than 1 trillion won (US$907.7 million) every year in producing new models and beefing up research and development (R&D), its head said Thursday.

Sergio Rocha, chief executive officer at GM Korea Co., told reporters that his company will carry out such an investment in South Korea as part of its road map for sustainable growth.

Rocha, former president of GM Argentina, Uruguay and Paraguay, has been at the helm of GM Korea since March 1.

The carmaker said it plans to produce its battery-powered electricity car model named "Spark," at its factory in Changwon, about 400 kilometers southeast of Seoul. The company is seeking domestic sales of the model next year and later plans to tap overseas markets.

Rocha said that the production and sale of its Spark model indicated the importance of GM Korea to its parent company as a part of its future carmaking strategies.

GM Korea said it also plans to strengthen its long-term capacity to produce auto models by expanding investment in design and R&D.

Source Text

 

Source: Yonhap News (Oct. 25, 2012)

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