DETROIT, (Reuters) – General Motors is investing about $1.4 billion in three U.S. factories and one Canadian plant that produce gas engines, transmissions and metal castings, the automaker said on Wednesday, bolstering its ability to make combustion-engine cars as demand for electric vehicles wanes.
The investments also come as President Donald Trump’s administration continues to pressure companies to invest more in the United States. GM noted it has invested $6 billion in the past year on factories in the U.S.
Here are the details:
- The investments will support the launch of GM’s next-generation trucks and full-size SUVs, such as the Chevrolet Silverado and Cadillac Escalade.
- GM is investing $300 million at a plant in Romulus, Michigan, to increase transmission production.
- The automaker is investing $150 million in a casting plant in Saginaw, Michigan, to increase the output of engine parts.
- Another $40 million is going to a plant in Toledo, Ohio, to increase transmission production.
- In Canada, GM said it’s investing 691 million Canadian dollars ($504.9 million U.S. dollars) for production of the next generation of its V-8 engine at a plant in Ontario.
Reporting by Kalea Hall; Editing by Mike Colias and Nick Zieminski
