General Motors do Brasil will spend R$710m (US$415m) on a new vehicle transmission plant with initial capacity of 150,000 transmissions a year, half for local use, replacing imports, and half for export to Europe.
The new plant, for which a memorandum of understanding was signed recently, will begin production in 2014 of a high-efficiency six-speed transmission with improved torque capacity to cover a variety of uses, GM do Brasil said in a statement. The new plant will be constructed on the same site where GM is already building a powertrain plant.
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The new plant will create 350 jobs in the first phase. It will have a 50,000sq m (538,196sq ft) construction area. Sales are forecast at R$200m ($116m) a year.
