(Reuters] – General Motors Co. (NYSE:) is set to begin Argentina production next month of its Chevrolet Tracker SUV, according to the U.S. automobilemaker and the Argentine Government.

Shilpan Amin, a GM vice president and president for GM Internationational discussed production plans with Alberto Fernandez, the Argentine president, in a Los Angeles meeting.

According to the Argentine government, the goal of the company is to export their new vehicle to Latin American nations, primarily to Brazil and Colombia. 80% of its production will go there.

According to a GM spokesperson, the meeting was “an excellent opportunity to inform the government of Argentina about the progress and economic benefits of the important program.”

GM stated in 2017 that it was investing $300 million in Argentina to construct a new Chevrolet model at the Alvear plant, Argentina’s northeastern Santa Fe. Between 2014 and 2016, the company spent $740 million on this plant.

This automaker began production in Brazil of the Chevrolet Tracker and exported to Argentina that year.

In Argentina, increasing industrial exports will bring in foreign currency. It would also help to shore up the central bank’s reserves which have been hit hard by rising inflation and uncertainty about exchange rates.

GM is among 12 car-building companies in Latin America’s third largest economy. May’s automobile production increased by 33% over the same period last year. Exports also soared by 34%.