GM to invest $1 bln in Russian operations within 5 years

Newswire

MOSCOW, Aug 29 (Reuters) - General Motors plans to invest $1 billion over the next five years to expand cars and components production in Russia, one of the fastest-growing car markets in the world, its head of international operations Tim Lee said. The company, which produces cars at three sites across Russia in St. Petersburg, Togliatti and Kaliningrad, will invest part of the money to increase capacity, Lee said on Tuesday evening ahead of an auto show in Moscow.

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