Chevrolet today announced it will invest $5 billion in the development of an all-new lineup of vehicles to bolster its worldwide growth markets that include Brazil, China, India, and Mexico.
“With a significant majority of anticipated automotive industry growth in 2015 to 2030 outside of mature markets, Chevrolet is taking steps to capitalize on that growth,” says Dan Ammann, president of GM.
Ammann says the vehicle family will replace several existing vehicles. He says GM has expanded its partnership with SAIC Motor, a Chinese-owned automotive manufacturing company, to jointly develop the core architecture and engine for the new vehicles.
Ammann says the vehicles will be exported for sale to growth markets, but will not be exported to mature markets like the United States. He says the program is expected to add more than 2 million vehicles annually to the automaker’s sales. The debut is planned for the 2019 model year.
“This new vehicle family will feature advanced customer-facing technologies focused on connectivity, safety, and fuel efficiency delivered at a compelling value,” says Mark Reuss, executive vice president of global product development, purchasing, and supply chain for GM.
Reuss says Chevrolet expects to improve competitiveness and profitability by delivering what customers expect in each market.â€‹