GM Confirms $1 Billion U.S. Investment Plan
January 17 2017 - 10:26AM
Dow Jones News
By Mike Colias
General Motors Co. confirmed it will invest an extra $1 billion
in its U.S. manufacturing operations and will bring in house some
production now being done by a supplier in Mexico, days after
President-elect Donald Trump ramped up pressure on the nation's
largest auto maker to follow rivals in committing to create U.S.
jobs.
GM said the investment would create or retain nearly 2,000 new
manufacturing jobs. About 450 of those are needed as GM moves to
make its own axles for the next generation of its full-size pickup
truck, replacing a supplier that now makes them in Mexico.
GM also said it would add about 5,000 new salaried jobs "over
the next few years," including new engineers working in "advanced
technologies" and additions to its GM Financial captive-finance
unit.
"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," GM Chief Executive
Mary Barra said in a statement.
Write to Mike Colias at Mike.Colias@wsj.com
(END) Dow Jones Newswires
January 17, 2017 10:11 ET (15:11 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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