General Motors do Brasil Ltda is not swayed by cutbacks at corporate headquarters in Detroit and will invest $500 million in new models launching as early as September, a company spokesman said Monday.

The money comes from General Motors Corp.'s (GM) Brazilian subsidiary and not from the coffers of the U.S. General Motors, which announced Monday that it will lay off 21,000 jobs and eliminate its Pontiac brand by the end of next year.

By comparison, GM in Brazil has around 24,000 employees. The $500 million will go to General Motors do Brasil's new car project, called Viva. GM said that a few models will be launched, but has kept the new models under wraps.

GM is one of Brazil's Big Three, which include Volkswagen AG (VLKAY) and Fiat SpA (FIATY) as market leaders.

Over the last three years, Brazil has become a top market for the GM Chevrolet brand, trailing China and the U.S.

-By Kenneth Rapoza, Dow Jones Newswires; 5511-2847-4541; kenneth.rapoza@dowjones.com