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GM Reportedly In Talks To Invest 9 Billion Reais In Brazil

General Motors Co (GM) is in talks to invest 9 billion reais in the Brazilian state of Sao Paulo over the next three years in return for tax incentives, according to the reports.

GM has in recent weeks warned its employees in Brazil that "sacrifices" would be necessary for the company to return to profit in the country, raising concerns about layoffs or shuttered assembly lines. Last month, the carmaker told public officials and unions it was in talks with Sao Paulo state about tax incentives.

The reports said that GM would invest in its product line until 2022, and then the following year, the company would start to enjoy tax rebates.

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