The investment is part of a $ 2 billion plan that the automaker says will create or retain 4,000 jobs across 17 facilities over the next year and a half. Flint will enjoy around 150 of those positions.
GM has seen its share of the full-size pickup truck market increase from 37.7 percent in the first five months of last year to 40.4 percent over the same period of time in 2011. The next-generation Silverado and Sierra are slated to hit the market in 2013, complete with better fuel economy. Hit the jump for the press release.
Investment supports next-generation full-size pickups and creates or retains 150 jobs
FLINT, Mich. – General Motors will invest $328 million to prepare its plant in Flint, Mich. to build the next generation of Chevrolet and GMC full-size pickup trucks, creating or retaining 150 jobs.
The plant, which currently has 2,047 employees, builds the hot-selling heavy-duty versions of the Chevrolet Silverado and GMC Sierra. Sales of the new-for-2011 trucks have led to an additional 2.4 percentage points of market share (through May), bringing GM's total HD share to 36 percent.
"This investment will allow us to continue building award-winning full-size pickups that offer better fuel efficiency than ever before without sacrificing features and functionality," said Cathy Clegg, GM vice president of Labor Relations. "We remain committed to providing customers the utility and capability of our world-class full-size pickups."
GM's retail share of the full-size pickup market has grown to 40.4 percent through May compared with 37.7 percent in the first five months of 2010.
"Truck sales play an important role in the success of General Motors," said Joe Ashton, UAW-GM Vice President. "We are confident that the next-generation of trucks will continue to be an important source of revenue for the company and jobs for our members. Our members are ready to use their abundant talents to build high-quality trucks that deliver exceptional value to our customers."
The investment announced Monday is part of $2 billion GM is spending that will create or retain about 4,000 jobs in 17 facilities in eight states over the next 18 months.
Michigan has been a major beneficiary in the current round of investments, designated for $744 million. The Flint Engine, Bay City Powertrain, Detroit-Hamtramck Assembly, Lansing Grand River Assembly, Saginaw Powertrain and GM Components Holdings in Wyoming, Mich., all were designated for manufacturing investment along with a $130 million Data Center on its Warren, Mich. Technical Center campus.