Auto News for Jan. 17 – GM Investing Big Bucks in U.S. plants

gm-logo

 General Motors announced it will invest $1 billion in its U.S. plants resulting in 1,500 new and retained jobs.  Various other moves, GM said, would “result in more than 5,000 new jobs” over the next few years. The investments cover new vehicles as well as technology and component projects. It will begin work on insourcing axle production for its next generation of full-size pickup trucks, including work previously done in Mexico, creating 450 U.S. jobs. “As the U.S. 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,”  said GM Chairman and CEO Mary Barra.

 Earlier, Fiat Chrysler announced it will invest $1 billion in Jeep plants in Michigan and Ohio and Ford cancelled plans for a new plant in Mexico and said it would invest $700 million in a Michigan plant. 

 Hyundai said it is mulling the idea of building a new plant in the U.S. and will invest $3.1 billion in this country over the next five years. The money will be used to retool factories and increase autonomous vehicle research. The $3.1 billion is a significant increase in U.S. investment compared to previous years. The factory, if it is constructed, would turn out high end vehicles such as the Genesis. Hyundai currently has a plant in Alabama.

 Officials behind the Consumer Electronics show announced their extravaganza will be held from Jan. 9-12 next year. That is the traditional date of the big Detroit auto show’s Press Days – no small thing in that an increasing number of auto makers are using the CES to show off new devices and models. Nine did so this year. So now, the Detroit auto show’s Press Days will be pushed back one week in 2018 to Jan 14-16. But a spokesman told the Detroit News the change was not related to the CES move, calling it a coincidence. Officials of both shows said they must be booked years in advance, but automakers say it would be impossible to introduce new models at both shows due to the close scheduling.

 

 

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s