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Posts Tagged ‘gm investment’

GM Gives Ride-Share Company a $500M Lyft

Pair plan to develop autonomous fleet for use.

by on Jan.04, 2016

GM's Dan Ammann, center, is all smiles after announcing the maker is investing $500 million with ride-sharing company Lyft.

Recently, General Motors officials noted that they believed that most folks will have their first experience with autonomous vehicles while using a ride-sharing service. Today, the company put $500 million of its money where its corporate mouth is by investing in Lyft, Inc.

The big money investment – the maker’s largest single investment in another company – is aimed at developing a fleet of self-driving ride-share vehicles. In addition to the working partnership, GM also gets a seat on Lyft’s board of directors.

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“We see the future of personal mobility as connected, seamless and autonomous,” said GM President Dan Ammann. “With GM and Lyft working together, we believe we can successfully implement this vision more rapidly.” (more…)

GM Invests $119 Million in Michigan Components Plant

Money will nearly double workforce size at facility

by on Jun.01, 2015

GM's Grand Rapids, Michigan, components plant is getting $119 million to "support" the production of future components.

General Motors’ latest target for investment is the company’s plant in Grand Rapids, Michigan, which will get $119 million to support the site’s components production capability. The action will create 300 jobs, nearly doubling the facility’s workforce.

The move is the latest in GM’s plan to invest $5.4 billion into its plants and other sites during the next three years to improve product quality and capability. The plan called for the addition of about 650 new employees and this move accounts for half of them.

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The Grand Rapids plant, which produces engine components, employs 500 people working three shifts. The money will be used to “support production of future vehicle components,” and GM said more details would be available at a later date. (more…)

GM Drops Another $1.2 Bil

Company upgrading full-size truck plant in Indiana.

by on May.26, 2015

GM announced it plans to spend $1.2 billion on its Fort Wayne, Indiana, truck plant.

General Motors continues writing big checks as part of its three-year, $5.4 billion facility invest plan and this time it signed one for $1.2 billion for upgrades to its full-size truck plant in Fort Wayne, Indiana.

The investment will improve the plant’s painting, sequencing and assembly operations. Construction will begin in June and will “take several years,” according to the automaker. Production will not be impacted.

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“This investment is more evidence that the customer is at the center of every decision we make,” said Cathy Clegg, GM North America Manufacturing vice president, in a statement. “Truck customers demand top quality. The upgrades at Fort Wayne Assembly will enable our team to continue delivering for them for years to come.” (more…)

GM Invests $1 Bil to Speed Product Development

Sixty-year-old tech center getting first-ever overhaul.

by on May.14, 2015

Mark Reuss, GM executive vice president for global product development, discusses the changes coming to the automaker's tech center.

The need to speed up the product development cycles helped expedite the big automaker’s decision to spend $1 billion dollars to rebuild and refurbish the company’s aging technical center in Warren, Michigan, a Detroit suburb.

Mark Reuss, GM vice president for product development, noted the Technical Center was 60 years old and had never undergone a complete renovation. However, GM now has the resources to plan for the future, he said. The last major addition to the Technical Center, the Vehicle Engineering Center of VEC, was completed more than 10 years ago.

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“For awhile, we were just putting out fires,” said Reuss in an oblique reference to the company’s financial crisis and bankruptcy during the previous decade. (more…)

GM Doubling Investment in Once-Abandoned Plant

Spring Hill plant originally served as home to Saturn.

by on Aug.06, 2013

A new lease on life for the Spring Hill plant.

What was once one of General Motors’ most promising assembly plants – only to face abandonment as the maker plunged into bankruptcy – is getting a new lease on life.

GM will nearly double the planned investment in its Spring Hill, Tennessee assembly plant, adding $167 million to a previous package of $183 million. That will bring two separate vehicle programs to the factory, originally put up as part of the once-promising Saturn project. In all, the total, $350 million in spending should create or retain about 1,800 jobs, according to the Detroit maker.

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“Today’s announcement recognizes the commitment of Spring Hill employees and leadership,” said Mark Reuss, president, GM North America. “As a team, they draw upon the plant’s unique heritage and dedicated work force to deliver top quality for our customers.”

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GM Rebuffs China Criticism

Detroit maker investing $16 billion in U.S.

by on May.07, 2013

General Motors is investing $16 billion into its U.S. business, including plant improvements.

Stung by jibes from the Wall Street Journal’s editorial page, General Motors Co. is planning to invest about $16 billion on U.S. factories and facilities through 2016, more than it will spend in China, the company said.

Last month, GM Chief Executive Dan Akerson said on the eve of the Shanghai Auto Show that planned to invest $11 billion investment for its joint ventures in China. That was an increase from a 2011 outline to spend $7 billion through 2015.

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The Journal last week ran a commentary on its op-ed page titled, “Welcome to General Tso’s Motors,” saying China “is disproportionately benefiting” from the 2009 U.S.-backed bankruptcy reorganization of Detroit-based GM. The Journal’s editorial page previously has criticized the bailout. GM responded to the criticism in a letter to the newspaper.

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GM Investing $600 Mil, Maintaining 4,000 Jobs, at Kansas Plant

Centerpiece of maker’s North American upgrade program.

by on Jan.29, 2013

Following the announcement a worker at GM's Fairfax plant shines a new Chevy Malibu.

In what is being described as one of the company’s biggest investments since emerging from bankruptcy in 2009, General Motors has announced plans to spend $600-million to upgrade its assembly and stamping plant in Fairfax, Kansas – a move it says will save 4,000 jobs.

The investment will include the construction of a new 450,000 square-foot paint shop, the installation of a new stamping press and other upgrades, GM said.

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GM official claim the investment is one of GM’s largest plant investments ever, and builds on nearly $2 billion invested in Fairfax in the last decade. Earlier this month, GM announced it would spend $1.5 billion in North American facilities in 2013. This Fairfax investment comprises a large part of that commitment.

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GM Plans New Texas Stamping Plant

Another boost for auto industry employment rebound.

by on Feb.03, 2012

The Lexington plant produces a variety of large SUVs, including the Cadillac Escalade.

General Motors has just added to a string of new investments in the U.S. by announcing plans to start construction next week on a $200 million stamping facility next to the company’s assembly plant in Arlington, Texas between Dallas and Fort Worth.

GM and the United Auto Workers Union said the move will create approximately 180 new jobs – that announcement following word this week that manufacturers including Chrysler, Honda and Volkswagen will be adding nearly 2,000 jobs of their own (For that story, Click Here.).

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The new GM stamping plant will produce major components for the next generation of full-size Chevrolet Tahoes, Suburbans, GMC Yukons and Cadillac Escalades. GM did not provide a target date for completion of the plant but it appears the maker hopes to have the building complete and the presses installed by the end of next year, meaning the updated versions of the Suburban and Escalade could appear in 2014.

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General Motors Confirms 2,500 New Jobs Coming at Chevrolet Volt Plant

Detroit assembly line will quadruple plug-in production, add Chevy Malibu and Impala models.

by on May.25, 2011

GM's North American President Mark Reuss at the Poletown plant announcing 2,500 new jobs.

Following up on an earlier announcement that it would invest $2 billion in 17 U.S. plants, General Motors today provided additional details confirming it will add 2,500 jobs at the Detroit plant producing the well-publicized Chevrolet Volt plug-in hybrid.

Known as the “Poletown” plant, the factory will add a second shift later this year and is expected to introduce a third shift later on as it takes on several additional product lines.  Among other things, the factory is beginning to roll out a European version of the Volt, called Opel Ampera, which GM believes will increase demand enough to support the production of 60,000 plug-ins next year – about four times more than it expects to produce in 2011.

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In all, GM expects to invest $69 million in the facility, formally called the Detroit-Hamtramck Assembly Plant.  The 26-year-old facility will shift from its traditional focus on luxury cars, such as the Cadillac DTS sedan, and is now expected to become one of the higher-volume assembly lines in the maker’s global production network.

“We’re doing (this) because we’re confident of consumer demand,” said Mark Reuss, president of GM’s North American operations, during a ceremony at the facility.

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