General Motors Co. will invest 10 billion Brazilian reais in two of its plants in São Paulo, Brazil, Reuters reported March 19.

General Motors did not immediately respond to S&P Global Market Intelligence's request for comment.

In February, another Reuters report said the Michigan-based automaker is planning to invest 9 billion Brazilian reais in São Paulo over the next three years for tax incentives.

As of March 18, US$1 was equivalent to 3.80 Brazilian reais.