06:22 AM EDT, 09/05/2024 (MT Newswires) -- General Motors ( GM ) plans to start producing its first-ever hybrid-flex vehicles in Brazil that can run on 100% ethanol or gasoline, Reuters reported late Wednesday, citing the company.

The company said it plans to make two hybrid-flex models at its factories in Sao Paulo state, Reuters reported.

GM did not specify when it would launch the hybrid-flex vehicles, but a local union at its plant in Sao Jose dos Campos said the first model would be available in the market next year, Reuters reported.

This is part of GM's 7 billion real ($1.42 billion) investment plan for hybrid-flex cars in Brazil, with the US car manufacturer saying on Wednesday that 5.5 billion reais of that amount will be invested in its operations in Sao Paulo state where it has two car factories, the report said.

GM did not immediately respond to MT Newswires' request for comment on the matter.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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