Ford isn't the only American automaker making a big investment in its manufacturing business. Fresh and free of its US government loans, General Motors has announced that it will be investing almost $1.3 billion in upgrades for five of its US-based manufacturing plants. The investment will see increased capacity for GM's six-speed transmissions, and will also be used to gear up for a new 10-speed automatic and a new V6 engine.
Of the $1.3 billion, the biggest chunk is earmarked for GM's Flint, MI assembly plant. The facility, which builds the GMC Sierra and Chevrolet Silverado, will get $600 million for general upgrades, which will include a new paint shop.
The Romulus, MI powertrain facility will see $493.4 million in investments, with $343.4 going towards production of the new 10-speed auto and $150 million going towards the new V6. Detroit-Hamtramck Assembly, which builds the Chevrolet Volt (and its badge-engineered counterparts for Holden, Opel and Vauxhall), Malibu, Impala and Cadillac ELR is getting $121 million for a new logistics center.
Outside the state of Michigan, GM's Toledo Transmission Operations will get $30.6 million to increase capacity of six-speed autos, while the Bedford, IN facility will get $22.6 million to produce components for the aforementioned 10-speed auto and $6.6 million for a six-speed gearbox.
All told, GM expects this latest investment to help save or create 1,000 jobs. Meanwhile, the Detroit-based automaker's manufacturing investments for 2013 have reached $2.8 billion, a figure it says has helped save or create 26,500 jobs. Scroll down for the official press release from General Motors.
Of the $1.3 billion, the biggest chunk is earmarked for GM's Flint, MI assembly plant. The facility, which builds the GMC Sierra and Chevrolet Silverado, will get $600 million for general upgrades, which will include a new paint shop.
The Romulus, MI powertrain facility will see $493.4 million in investments, with $343.4 going towards production of the new 10-speed auto and $150 million going towards the new V6. Detroit-Hamtramck Assembly, which builds the Chevrolet Volt (and its badge-engineered counterparts for Holden, Opel and Vauxhall), Malibu, Impala and Cadillac ELR is getting $121 million for a new logistics center.
Outside the state of Michigan, GM's Toledo Transmission Operations will get $30.6 million to increase capacity of six-speed autos, while the Bedford, IN facility will get $22.6 million to produce components for the aforementioned 10-speed auto and $6.6 million for a six-speed gearbox.
All told, GM expects this latest investment to help save or create 1,000 jobs. Meanwhile, the Detroit-based automaker's manufacturing investments for 2013 have reached $2.8 billion, a figure it says has helped save or create 26,500 jobs. Scroll down for the official press release from General Motors.
GM Invests Nearly $1.3 Billion for Five U.S. Plant Upgrades
Brings to $2.8 billion in U.S. facility investments announced this year
FLINT, Mich. – General Motors will invest nearly $1.3 billion in five manufacturing sites in Michigan, Ohio and Indiana to produce new fuel-efficient engines and transmissions, enhance vehicle quality and streamline logistics. The investments combined will create or retain about 1,000 jobs.
The investments – announced today at GM plants in Detroit, Flint and Romulus, Mich.; Toledo, Ohio and Bedford, Ind. – will support production of a new V6 engine, new 10-speed transmission and an existing 6-speed transmission. They will also fund assembly plant upgrades, including a new paint shop and logistics optimization center.
Since 2009, GM has announced investments of about $10.1 billion in its U.S. operations – $2.8 billion in 2013 alone – creating or retaining more than 26,500 jobs.
"GM is committed to a strong American manufacturing base and creating jobs in dozens of communities throughout the country. Today's announced plant upgrades continue the momentum of a resurgent auto industry," said GM Executive Vice President and North America President Mark Reuss. "More importantly, these investments add up to higher quality and more fuel-efficient vehicles for our customers."
Said UAW Vice President Joe Ashton, who directs the union's GM Department:
"Today's announcement is a win for American workers. The UAW is proud to be a part of this successful collaboration with GM that has helped rebuild the nation's economy, created good paying, union jobs in communities across the country, and brought manufacturing that was moved overseas back to the U.S. This is further proof that collective bargaining works."
GM's nearly $1.3 billion investment includes:
$600 million in Flint Assembly for facility upgrades, including a new paint shop
$493.4 million in Romulus Powertrain Operations, which includes $343.4 million for equipment to produce an all-new 10-speed automatic transmission and $150 million to increase capacity of a previously announced new V6 engine
$121 million in Detroit-Hamtramck Assembly for a logistics optimization center
$30.6 million in Toledo Transmission Operations for increased capacity for an existing 6-speed transmission and tooling for a new variant
$29.2 million in Bedford Castings, which includes $22.6 million to produce components for the 10-speed transmission and $6.6 million to produce components for an existing 6-speed transmission
The 10-speed automatic transmission will contribute to improved fuel economy and performance. Details about this program and the new V6 engine will be announced later.
About General Motors Co.
General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. GM, its subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang, Opel, Vauxhall and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com.
Brings to $2.8 billion in U.S. facility investments announced this year
FLINT, Mich. – General Motors will invest nearly $1.3 billion in five manufacturing sites in Michigan, Ohio and Indiana to produce new fuel-efficient engines and transmissions, enhance vehicle quality and streamline logistics. The investments combined will create or retain about 1,000 jobs.
The investments – announced today at GM plants in Detroit, Flint and Romulus, Mich.; Toledo, Ohio and Bedford, Ind. – will support production of a new V6 engine, new 10-speed transmission and an existing 6-speed transmission. They will also fund assembly plant upgrades, including a new paint shop and logistics optimization center.
Since 2009, GM has announced investments of about $10.1 billion in its U.S. operations – $2.8 billion in 2013 alone – creating or retaining more than 26,500 jobs.
"GM is committed to a strong American manufacturing base and creating jobs in dozens of communities throughout the country. Today's announced plant upgrades continue the momentum of a resurgent auto industry," said GM Executive Vice President and North America President Mark Reuss. "More importantly, these investments add up to higher quality and more fuel-efficient vehicles for our customers."
Said UAW Vice President Joe Ashton, who directs the union's GM Department:
"Today's announcement is a win for American workers. The UAW is proud to be a part of this successful collaboration with GM that has helped rebuild the nation's economy, created good paying, union jobs in communities across the country, and brought manufacturing that was moved overseas back to the U.S. This is further proof that collective bargaining works."
GM's nearly $1.3 billion investment includes:
$600 million in Flint Assembly for facility upgrades, including a new paint shop
$493.4 million in Romulus Powertrain Operations, which includes $343.4 million for equipment to produce an all-new 10-speed automatic transmission and $150 million to increase capacity of a previously announced new V6 engine
$121 million in Detroit-Hamtramck Assembly for a logistics optimization center
$30.6 million in Toledo Transmission Operations for increased capacity for an existing 6-speed transmission and tooling for a new variant
$29.2 million in Bedford Castings, which includes $22.6 million to produce components for the 10-speed transmission and $6.6 million to produce components for an existing 6-speed transmission
The 10-speed automatic transmission will contribute to improved fuel economy and performance. Details about this program and the new V6 engine will be announced later.
About General Motors Co.
General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. GM, its subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang, Opel, Vauxhall and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com.
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