DETROIT (Michigan News Source) – Stellantis will invest more than $6 billion in South America.

The automaker is planning to launch 40 new products there and make key investments.

MORE NEWS: Mike Cox Drops Out, Leaving James and Johnson to Battle for GOP Governor Nomination in Michigan

Stellantis currently dominates the auto market in Brazil, Argentina, and Chile. Officials call the investment historic.

The company boasts more than 31-percent of the market in Brazil.