GAC, the fifth-largest Chinese automotive group, announced an investment of US$1 billion after a meeting with Brazilian vice-president Geraldo Alckmin.

Today, GAC's main products include SUVs such as the GS3, GS4 and GS8 and the M6 Pro minivan in addition to the electric division called Aion. GAC is already present in Central America, the Caribbean, and Latin American nations like Chile.

“China is seeking to invest and work towards a partnership of cooperation and mutual benefits for both countries, according to the company.

“Over the next 5 years, GAC plans to invest US$1 billion in Brazil, including plans to establish factories, research and development centers, and warehouses for spare parts,” said Feng Xingya, president of the GAC Group.

(Source: Carro Magazine, on July 2)