Trump Urges GM to Invest More in U.S. Production
January 11 2017 - 2:08PM
Dow Jones News
By Mike Colias
President-elect Donald Trump on Wednesday ratcheted up pressure
on General Motors Co. to invest more in U.S. production,
encouraging the nation's largest auto maker to follow the recent
investment plans from Detroit rivals.
In his first news conference since winning office, Mr. Trump
thanked Ford Motor Co. and Fiat Chrysler Automobiles for disclosing
plans in recent days to expand factories in the U.S. that would add
a combined 2,700 jobs. Those announcements came amid an escalation
of Mr. Trump's criticism of car companies for importing vehicles
from Mexico.
Mr. Trump cited a "big, big factory...to be built in this
country, as opposed to another country," by FCA. The auto maker
said Sunday that it would revamp two existing plants in Michigan
and Ohio to manufacture trucks and sport-utility vehicles, creating
about 2,000 jobs. It didn't say it would build a new facility.
Ford last week scrapped plans for a $1.6 billion factory in
Mexico and said it would retool a plant near Detroit to make
electric cars, creating 700 jobs. Chief executives of both
companies said the moves weren't the result of pressure from the
president-elect.
"I hope that General Motors will be following. And I think they
will be," Mr. Trump said during his news conference. Last week, he
criticized GM in a Twitter message for importing small cars from
Mexico.
Mr. Trump on Wednesday said there will be "big news" in coming
weeks "about companies that are going to be building in the
Midwest," declining to name them.
In a statement, GM said it has "more in common than not" with
Mr. Trump. "A vibrant U.S. manufacturing base that is competitive
globally and that grows jobs is what we all want," GM said.
On Tuesday, GM Chief Executive Mary Barra defended the company's
U.S. commitment. GM operates more than 40 factories, employs
100,000 people and invested about $11 billion in the U.S. in the
last two years, she said.
(END) Dow Jones Newswires
January 11, 2017 13:53 ET (18:53 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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