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Tuesday, January 18, 2022

General Motors to announce $1bn investment

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General Motors will today announce a huge investment in its factories that will create or keep around 1,000 jobs.
A company source told The Associated Press that the US$1bn investment is part of the normal process of equipping factories to build new models, and it has been planned for months.

The source said that multiple factories will see investment, but GM does not plan to say where the new jobs will go.
The company plans to use the announcement to underline both the blue-collar and white-collar US jobs it has created in recent years, the source said.

President-elect Donald Trump has attacked GM and other carmakers for building vehicles in Mexico and shipping them to the US.

Earlier this month, Mr Trump threatened on Twitter to tax GM for importing the compact Chevrolet Cruze.
While GM builds hatchback Cruzes in Mexico, most Cruze sales are sedans built in the US, in Ohio.

On the eve of the Detroit motor show press day last week, GM chief executive Mary Barra said the company has no plans to change where it produces small cars due to Mr Trump’s threats.

She said the car business has long lead times for where it produces vehicles, with decisions made two to four years ahead.

Ms Barra, who is part of a Trump economic advisory group, said it is too early to talk about a possible tariff.

She said the company has more in common with Mr Trump’s goals on trade and jobs than differences.

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