Home :: Business :: GM to invest US$1b in US manufacturing, create 5,000 jobs
General Motors said it will invest an additional US$1 billion in US manufacturing operations and create 5,000 jobs in the coming years. (AFP/Stan Honda)

GM to invest US$1b in US manufacturing, create 5,000 jobs

WASHINGTON: General Motors said on Tuesday (Jan 17) it will invest an additional US$1 billion in US manufacturing operations and create up to 5,000 jobs in the coming years, for which Donald Trump immediately took credit.

The investments in new vehicle and advanced technology are tied to 1,500 new and “retained” jobs, while 450 will be returned to the US from Mexico, the company said in a statement. Those and other moves are expected to total 5,000 new US jobs over the next few years.

The company said the latest investments follow US$2.9 billion announced in 2016 and more than US$21 billion invested in its US operations since 2009.

GM is the latest in a series of companies to announce plans to create US jobs – including Amazon, Ford and WalMart – amid continued pressure, mostly via Twitter, from US President-elect Trump, who has threatened stiff penalties on companies that import products manufactured overseas.

Shortly after the GM and Walmart announcements on Tuesday, Trump took credit for the new jobs in a pair of tweets.

“With all of the jobs I am bringing back into the U.S. (even before taking office), with all of the new auto plants coming back into our … country and with the massive cost reductions I have negotiated on military purchases and more, I believe the people are seeing ‘big stuff.'”

GM chair and CEO Mary Barra said: “As the US manufacturing base increases its competitiveness, we are able to further increase our investment, resulting in more jobs for America and better results for our owners.”

“The US 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,” she added in a statement.

The company touted insourcing of 450 jobs from Mexico to produce axles for new full-size pickup trucks, and of thousands of position in information technology.

In addition, GM said another supplier has committed to make components for GM’s next-generation full size pickup trucks in Michigan, moving 100 supplier jobs from Mexico to the US.

– AFP

Leave a Reply

Your email address will not be published. Required fields are marked *

*

x

Check Also

Award ceremony: NIMASA honours distinguished staff, stakeholders for meritorious contributions

.Peterside credits Amaechi for development in maritime sector  .Amaechi, Ngige, Akiolu, others grace occasion |TRADE NEWSWIRE|: ...