General Motors has announced a round of significant investment into its U.S. manufacturing operations on the back of the $2.9 billion investments announced in 2016.
This year, the American automaker will invest an additional $1 billion to its local operations and will also hire and retain an additional 1,500 employees.
Although GM says it will provide greater details of the individual projects being pursued with the investments later in the year, it has confirmed that the funds will “cover multiple new vehicle, advanced technology and component projects”. Additionally, the Detroit carmaker says it will move production of axles for its next-generation range of pickup trucks from Mexico to Michigan and create an additional 450 U.S. jobs.
In a statement, GM chairman and chief executive Mary Barra said:
“As the U.S. manufacturing base increases its competitiveness, we are able to further increase our investment, resulting in more jobs for America and better results for our owners. The U.S. is our home market and we are committed to growth that is good for our employees, dealers, and suppliers and supports our continued effort to drive shareholder value.”
Alongside its own investments and commitment to U.S. manufacturing, GM is encouraging many of its suppliers to follow suit and says one supplier has already committed to moving its production from Mexico to Michigan, creating 100 U.S. jobs in the process.
PHOTO GALLERY
