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Home > Industry News

GM Invests $1 Billion to Boost Truck Production

Views : 44
Update time : 2023-06-08 11:03:48
        General Motors said on June 5 that it plans to invest more than $1 billion to upgrade two production sites in Flint, Michigan, in preparation for the production of a new generation of heavy-duty trucks with internal combustion engines, according to reports.
 
 
        GM previously said it will invest a total of $1.7 billion in its Flint-based production facilities this year to support production of the company's next generation of heavy-duty pickups. 
        GM said it will invest $579 million in its Flint engine business unit to produce the sixth-generation Small Block V-8 engine. The company will also invest another $103.5 million to upgrade another truck production facility in Flint. in 2022, GM sold nearly 288,000 HD Series pickups, a 38 percent increase from the previous year. 
        GM is expected to begin negotiations with the United Auto Workers (UAW) on the new contract, and the company has a Sept. 14 deadline to reach an agreement with U.S. production workers. Locking in investments that will secure jobs will be a top priority for the union. 
        Mike Booth, UAW vice president for the GM division, said in a statement about the Flint investment, "GM's business has thrived over the past 10 years thanks to the hard work of UAW members, so the company should continue to invest in its workforce." 
        Just before GM announced the investment in the Flint plant, the UAW released a video in which union president Shawn Fain and the head of the union's GM division criticized the company for outsourcing semiconductor production work at its Kokomo, Indiana, plant to other companies. 
        Fain, who is from Kokomo, has family members who worked at the local GM plant, which once employed 15,000 people. Now, however, the plant has only 100 workers. In the video, Fain criticizes GM for cutting U.S. semiconductor production in 2017, while having to face a shortage of semiconductors imported from Asia over the past two years.

 
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