Back to latest news

General Motors will invest 918 million USD in US sites

General Motors will invest 918 million USD in US sites

These investments will allow the firm to improve its market-leading full-size truck and SUV business while also supporting its expanding EV product line. It is always a positive sign for the company when they are investing into the expansion. Below you can find, how investments were divided.

579 million USD of the investment will go to the company's Flint, Michigan, facility to prepare it to construct GM's sixth generation family of Small Block V-8 gas engines, as well as the related block, crank, and head machining. 216 million USD will be sent to Bay City GPS in Michigan to prepare the plant for the manufacturing of camshafts, connecting rods, and block/head machining for Flint's V-8. GM will invest 55 million USD in the Defiance, Ohio, factory. 47 million USD will be committed to prepare the plant to produce a range of block castings for future V-8 engine designs. In addition, the investment includes 8 million USD for the construction of a casting development cell to support future EV initiatives. Rochester Operations in New York will get 64 million USD, with 12 million USD going toward preparing the plant to produce intake manifolds and fuel rails. In addition, 56 million USD will be invested to create battery pack cooling lines for EV manufacture.

Picture1

Movement of General Motors stocks in the last five years. (Source: Trading Economics)

Sources:

https://tradingeconomics.com/gm:us

https://www.msn.com/en-us/money/companies/gm-to-invest-918m-in-4-of-its-u-s-plants-for-v-8-ev-production/ar-AA16zMZd?ocid=FinanceShimLayer

https://www.dbusiness.com/daily-news/gm-to-invest-918m-to-produce-nextgen-v-8-engine-expand-ev-production/

https://www.greencarcongress.com/2023/01/20230121-gm.html#:~:text=General%20Motors%20plans%20to%20invest,components%20to%20support%20EV%20production.

https://www.investing.com/news/stock-market-news/general-motors-to-invest-918m-in-four-us-sites-432SI-2985103