- Investing Additional $1 Billion in U.S. Manufacturing
- Moves Axle Jobs to U.S. from Mexico
- More than 5,000 New Jobs in Key Growth Areas
Posted on 01/17/2017 12:28:35 PM PST by mdittmar
General Motors today announced that it will invest an additional $1 billion in U.S. manufacturing operations. These investments follow $2.9 billion announced in 2016 and more than $21 billion GM has invested in its U.S. operations since 2009.
DETROIT – General Motors today announced that it will invest an additional $1 billion in U.S. manufacturing operations. These investments follow $2.9 billion announced in 2016 and more than $21 billion GM has invested in its U.S. operations since 2009.
The new investments cover multiple new vehicle, advanced technology and component projects. A combination of 1,500 new and retained jobs are tied to the new investments. Details of individual projects will be announced throughout the year.
The company also announced it will begin work on insourcing axle production for its next generation full-size pickup trucks, including work previously done in Mexico, to operations in Michigan, creating 450 U.S. jobs.
“As the U.S. manufacturing base increases its competitiveness, we are able to further increase our investment, resulting in more jobs for America and better results for our owners,” said GM Chairman and CEO Mary Barra. “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’s announcement is part of the company’s increased focus on overall efficiency over the last four years. With a strategy to streamline and simplify its operations and grow its business, GM has created 25,000 jobs in the U.S. − approximately 19,000 engineering, IT and professional jobs and 6,000 hourly manufacturing jobs – and added nearly $3 billion in annual wages and benefits to the U.S. economy over that period. At the same time, GM reduced more than 15,000 positions outside the U.S., bringing most of those jobs to America. During that period, the company moved from 90 percent of its IT work being outsourced to an insourced U.S.-based model.
“We will continue our commitment to driving a more efficient business,” said Barra, “as shown by our insourcing of more than 6,000 IT jobs that were formerly outside the U.S., streamlining our engineering operations from seven to three, with the core engineering center being in Warren, Michigan, and building on our momentum at GM Financial and in advanced technologies. These moves, and others, are expected to result in more than 5,000 new jobs in the U.S. over the next few years.”
GM has also been facilitating its supplier base to do the same. The company has been executing a strategy to create supplier parks adjacent to its U.S. manufacturing sites (already accomplished at GM’s Fairfax Assembly Plant in Kansas, Spring Hill Assembly Plant in Tennessee, Fort Wayne Assembly Plant in Indiana, and Lordstown Assembly Plant in Ohio), and will continue to expand this effort. Supplier parks locating near assembly plants result in significant savings from reduced transportation costs, higher quality communications and continuous improvement activities as suppliers are located closer to the final assembly location.
In addition, GM is confirming that another supplier has committed to make components for GM’s next-generation full size pick-up trucks in Michigan, moving 100 supplier jobs from Mexico to the U.S.
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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The magic wand beats the pen and phone once again.
Thank You General Motors !!!
I wonder when the establishment press is going to give up on the ludicrous Russian hacking angle and start talking about how it wasn’t fair for all these big American (and foreign) companies to hold back billions and soon enough trillions of dollars of investments while poor li’l Obama was in office. Clearly, a case of racism. /s
I just don’t know if I can stand this much winning..
Best! Election! Ever!
Best! President! Ever!
All this winning is exhausting, I think I need to take a nap LOL. :0)
Trump has been a pretty effective President Elect.
If this were Obama, the media would declare him the best PE ever.
The Noble people would already have awarded him their peace medal.
A Democrat controlled Congress would have awarded him the highest honor possible.
Obama would have declared himself right hand man to Allah.
No wonder the Washington Post has found out the public now only support Trump by 40%. /s
Bwa ha ha ha ha ha ha, bwa ha ha ha ha ha ha, bwa ha ha ha...
They already did all that!..................
Same group that says Obama with a 58% approval(of leaving)rating?
Remember when Obama said we would not lose a dime on General Motors and the bailout.
Well, he was right.
We did not lose one dime.
We lost $10 BILLION DOLLARS on the sale of the GM stock the government had(if they had waited another year or so, we would have at least broke even) and another BILLION on the bailout of GMAC financing.
Trump’s pledge to cut the corporate tax rate down to 15% has been a yuuge motivator for companies to invest here again.
GM owes billions to bond holders Obama bilked.
I got my opinions about GM, and they’re not good, but well, what’s not to like about this ?
Such an excellent point--it upturned 100 years of legal precedent of its head--all for that SOB Obama.
And dealerships held by Republicans were deliberately targeted for closure.
It goes on and on. January 20, the day we can finally scratch the itch.
Only if they payback the taxpayers and stockholders from the bailout.
This is a head fake to cover their Mexico dealings. Trump needs to keep the pressure on them with the tariff threats.
They should sue and be compensated!!
Agreed. They may never be my first choice again, but let them make good on the bond holders who were screwed to bail out the UAW, and I just might stroll in to one of their dealerships.
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