Lula meets GM which will invest $1.4 billion in electric cars in Brazil

Brazilian President Lula da Silva met with representatives of US automaker General Motors, which said on Wednesday that it will invest more than $1.4 billion in Brazil in the next five years to develop electric vehicle production in Latin America's biggest economy.

Lula also met with representatives of Chinese electric vehicle maker BYD, which is planning to build a $600 million plant in Bahia state in northeastern Brazil.