GM to invest additional $1bn in US manufacturing operations
General Motors has decided to invest an additional $1 billion in the US manufacturing operations and create up to 5,000 jobs in the coming years.
The car manufacturer said in a statement that the investments in new vehicle and advanced technology are connected with 1,500 new and retained jobs, while 450 will be returned to the US from Mexico. According to the statement, those and other moves are expected to total 5,000 new US jobs over the next few years.
The company also noted that the latest investments follow $2.9 billion announced in 2016 and more than $21 billion invested in its US operations since 2009.
GM is among many other companies including Amazon, Ford and WalMart to announce plans to create jobs in the US. The American companies are under continued pressure from the US President-elect Trump, who has threatened stiff penalties on companies that import products manufactured overseas.
Immediately 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.” He tweeted.
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.
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