GM’s $5 billion plan to build a car for the developing world is overdue

Fortune

Brazil, China, India, and Mexico are getting their own group of Chevrolet-branded cars designed with one goal in mind: help General Motors dominate emerging markets.

General Motors [fortune-stock symbol=”GM”] will spend $5 billion to develop a new family of vehicles that share a common architecture that can be customized for different regional markets, Reuters reported. The group of cars, displaying the Chevrolet brand name, will be manufactured in Brazil, China, India, and Mexico. The cars will also be shipped to other emerging and developing countries.

GM will work with Chinese automaker Shanghai Automotive Industry Corp, or SAIC, the state-owned company it already has a partnership with. The two companies will design and manufacture several Chevrolet compact cars and sport-utility vehicles that will go on sale starting in 2019.

It’s an effort that’s overdue. While sales of cars and trucks in North America have improved since the dog days of the…

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