GM to Invest $2 billion in US Assembly Plants
In April 2011, GM expressed its intention to invest $131m in the Bowling Green Assembly plant to support production of the next generation Chevrolet Corvette, adding about 250 jobs.
According to Center for Automotive Research, the ripple effect of the planned investments would add almost $2.9 billion to the US gross domestic product and create or retain more than 28,000 jobs. Over the next few months, GM will make specific facility investment announcements dependent on successful completion of state and local incentives in some communities.
GM and its strategic partners produce cars and trucks in 30 countries. The automaker is headquartered in Detroit and employs 202,000 people in every major region of the world and does business in more than 120 countries.
GMâ€™s largest national market is China, followed by the US, Brazil, the UK, Germany, Canada, Italy, Russia, Mexico, and Uzbekistan.
Dan Akerson, chairman and CEO of GM, said: â€œWe are doing this because we are confident about demand for our vehicles and the economy. This new investment is on top of $3.4 billion and more than 9,000 jobs that GM has added or saved since mid-2009.
â€œGM will invest $204m to retain about 250 jobs for an all-new, advanced 8-speed automatic transmission for future vehicles that offer customers improved fuel economy and outstanding performance. Working in partnership with the UAW is essential to GMâ€™s success.â€
Will the move enhance sales of GM?
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