HomeAutoDonald Trump's effect: General Motors to invest $1.8 billion in the United States

Donald Trump’s effect: General Motors to invest $1.8 billion in the United States

Reader's Pick

Facing a barrage of attacks from President Donald Trump over plant closures, General Motors announced on March 22 a USD 1.8 billion investment and the creation of 700 new jobs in the United States.

About USD 300 million will be geared towards production of electric vehicles at the auto giant’s Orion plant in Michigan, creating 400 jobs, the company said in a statement.

Those vehicles had been slated for production outside of the United States. In November, GM shuttered five US plants, including auto assembly plants in Michigan and Ohio as part of a 15 percent cut in its workforce worldwide — cutting around 14,000 employees — which drew Trump’s Twitter wrath.

This week he urged the company to reopen the Lordstown, Ohio auto plant or sell it to someone who would.

- Advertisement -

“We are excited to bring these jobs and this investment to the US,” GM chief Mary Barra said in announcing the plans to employees in Orion.

“This new Chevrolet electric vehicle is another positive step toward our commitment to an all-electric future. GM will continue to invest in our US operations where we see opportunities for growth.” The new investment will help the company comply with new rules agreed to under the revised North American free trade deal, the statement said.

Among other changes, the United States-Mexico-Canada Agreement, or USMCA, requires that manufacturers produce a share of their vehicles in higher-wage factories in order to gain duty-free access to the region — a requirement aimed at favoring US and Canadian facilities over those in Mexico.The treaty has yet to be ratified, however.

The Orion plant already builds the Chevy Bolt EV, and the new model “will be based off an advanced version of the same vehicle architecture,” the statement said.

- Advertisement -

However, this is separate from the previously announced plan to produce a Cadillac EV.

In addition to the investment, GM said it is in the process of adding 1,000 jobs to its truck assembly plant in Flint, Michigan.

And the company said it has 2,700 openings at five sites around the country available to the 2,800 hourly workers impacted by the recent plant closures.

close

Stay on top of Budget 2023 with our newsletter

We don’t spam! Read our privacy policy for more info.

close

Stay on top of Budget 2023 with our newsletter

We don’t spam! Read our privacy policy for more info.

- Advertisement -

Read latest Business News and Startup news on TechGraph. Watch live and latest news on TechGraph TV. Follow us on Facebook or follow us on Twitter and Instagram. Listen audio news from TechGraph Briefings on Spotify, Google Podcast, Amazon Music & on Apple Podcast.
 

Krishna Mali
Krishna Mali
Founder & Editor of TechGraph.

Latest News

Promoted Links

Related Stories

Japan approves 26 trillion yen as economic stimulus package to combat overseas risks

Japan's cabinet approved an economic stimulus package worth 26 trillion yen ($2...

Sino-US trade war offers Europe’s chance to bank more Chinese reserves: Analysis

Should European countries want the euro to replace the dollar as the world's do...

1Win App: Review India Apk for Android and iOS

The company 1Win has been successfully operating in the markets of many countri...

Employees union seeks FIR against Jet Airways boss Naresh Goyal, Vinay Dube and on SBI Chairman

The employee union of Jet Airways, which is facing its worst crisis, Friday sou...

Samsung Electronics asks its shareholders to use electronic voting for upcoming AGM

Technology giant Samsung Electronics has adopted electronic voting for the firs...

Rahul Gandhi hits on RCEP says, ‘Make in India’ has become ‘Buy from China’

Asserting that "Make in India" has become "Buy from China," Congress leader Rah...

NASA astronauts to carry first ever all-female spacewalk on 29 March

Two NASA astronauts are scheduled to carry out the first ever all-female spacew...

How AI Is Crucial For Business Strategy Management

There is no doubt that AI has been reshaping the business strategies world over...

Feeding India through Ads: A TechGraph Campaign to feed India

As the second wave of Coronavirus (COVID-19) has affected millions of families ...

India’s export-import ecosystem needs robust logistics support: Nisschal Jaain, CEO of Shypmax

India’s burgeoning export-import ecosystem requires robust logistics support.