GM Invests $129 Million in Ohio, Indiana and Michigan Plants
Transmissions for eAssist fuel-saving technology among funded projects
DETROIT, July 12, 2011 /PRNewswire/ -- General Motors Powertrain plants in Ohio and Indiana that make transmissions for Buick and Chevrolet models with eAssist fuel-saving technology will get the bulk of a $129 million investment GM announced Tuesday.
The money is part of $2 billion being invested in 17 facilities in eight states over the next 18 months and will create or retain 4,000 jobs.
For plants in Toledo, Ohio, and Bedford, Ind., it is a second helping of investment since May, bringing total investment at the plants to $287 million and $81 million respectively.
"GM continually assesses its product offerings and makes adjustments to meet consumer demand," said Cathy Clegg, GM vice president of labor relations. "GM is moving quickly to get more fuel-efficient technologies into our vehicles to benefit the consumer, and these investments are an example of the speed with which we are responding."
"Cars that get exceptional gas mileage are selling well in the United States," added Joe Ashton, vice president of the UAW, GM Department. "Today's announcement provides an opportunity for our members to build the next generation of vehicles that will offer our customers improved fuel economy. We are proud of the broad array of high mileage, low emission vehicles that UAW members build for GM.
"We want our members to be on the cutting edge of providing the highest-value vehicles that have a minimum impact on our environment," Ashton said.
Toledo, which earlier was targeted for a $204 investment, will get an additional $83 million for enhancements to a six-speed transmission already produced in the plant that will be used in the Buick Lacrosse beginning this fall and the 2013 Chevrolet Malibu debuting early next year. The new money will support addition or retention of 30 jobs at the plant that employs about 1,600.
Bedford, which earlier was named for a $49 million investment, is receiving $32 million for enhancements to the die-cast case and torque converter on the six-speed transmission assembled in Toledo. Bedford's employment of 405 is unchanged by the new investment.
Separately, an investment of $15 million to $20 million is planned that will retain 60 jobs at the GM Components Holding plant in Wyoming, Mich. The investment will support various powertrain projects.
General Motors (NYSE:GM, TSX: GMM), one of the world's largest automakers, traces its roots back to 1908. With its global headquarters in Detroit, GM employs 202,000 people in every major region of the world and does business in more than 120 countries. GM and its strategic partners produce cars and trucks in 30 countries, and sell and service these vehicles through the following brands: Baojun, Buick, Cadillac, Chevrolet, GMC, Daewoo, Holden, Isuzu, Jiefang, Opel, Vauxhall, and Wuling. GM's largest national market is China, followed by the United States, Brazil, the United Kingdom, Germany, Canada, and Italy. GM's OnStar subsidiary is the industry leader in vehicle safety, security and information services. More information on the new General Motors can be found at www.gm.com.