GM to Spend $1 Billion Expanding Manufacturing and Tech Development in the U.S.
And President-elect Donald Trump is quite pleased with himself regarding the matter.
General Motors announced Tuesday that it plans on spending $1 billion to expand vehicle development and manufacturing in America, and that it will also be adding 7,000 jobs to its workforce in the United States.
The announcement comes during an ongoing push from President-elect Donald Trump to help keep jobs—specifically automotive industry ones—in America.
The auto company said in a press release that the $1 billion will go toward developing new vehicles and new technology for the company's cars. These projects will require 1,500 new and retained jobs. GM is also "insourcing" more than 6,000 information technology jobs that previously employed people outside of the United States; the company said that at least 5,000 more jobs would be coming to America in the next few years.
GM will be bringing its axle production to Michigan, allowing the addition of 450 new U.S. jobs. The auto company also said that one of its suppliers will be making the jump from Mexico to the U.S., and bringing 100 jobs with it.
"The U.S. is our home market and we are committed to growth that is good for our employees, dealers, and suppliers and supports our continued effort to drive shareholder value," said GM CEO Mary Barra.
Shortly after this announcement from GM, President-elect Trump took to his Twitter account to discuss the return of auto industry jobs.
Recently, Ford Motor Company and Fiat Chrysler Automobiles have announced similar efforts to invest in auto industry jobs in the U.S. in the near future. Hyundai and Kia also announced Tuesday that it would be investing $3.1 billion in its American facilities in the next five years.