General Motors said on Tuesday it would invest 10 billion reais ($2.65 billion) in two of its Brazilian plants located in the state of Sao Paulo.

The two plants are located in Sao Caetano do Sul and Sao Jose dos Campos and employ 15,000 people, jobs that will be maintained as part of the investment plan.

Two months ago, GM's Brazil unit was in advanced talks with Sao Paulo state to receive tax incentives, the company told public officials and union representatives a few days after telling workers in a memo that it was losing money in the country.

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Trumped? GM To Invest $2.65 Billion In Brazil And Keep All 15,000 Jobs

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