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General Motors to Invest $2 Billion in US Plants

{Img1}The US economy is back on the right track and demand for new vehicles is booming, so General Motors is celebrating excellent sales in recent months with an announcement that it will invest $2 billion in its US assembly and component plants, creating or saving 4,000 jobs in the process.

“We are doing this because we are confident about demand for our vehicles and the economy,
” GM Chairman and CEO Dan Akerson said during an event at the 54-year-old Toledo Transmission Plant. “This new investment is on top of $3.4 billion and more than 9,000 jobs that GM has added or saved since mid-2009.”

Of the total sum, some $204 million have been set aside for the Toledo facilities, helping retain 250 jobs for an all-new 8-speed automatic transmission, combining economy and performance.

The automotive giant’s sales during the first four months of the tear are already up 24.8 percent compared to 2010, and GM has also recently reported its fifth consecutive quarterly profit, indicating that its reorganization is on track.

“The UAW’s goal has been to return all laid-off workers to active status and see the company begin hiring again. These announcements will create and retain thousands of jobs and bring General Motors back to full employment of our hourly workforce,” said Joe Ashton, UAW vice president – GM Department.

As part of the new investments, GM has already announced last week that $31 million will go to its Bowling Green facility in Kentucky. Plant improvements and installation of new equipment to make the next generation Chevrolet Corvette will begin soon while the current-generation Corvette is assembled for at least the next two model years.

“If the market continues to recover, we are confident that GM will hire new workers to meet the strong demand for the products our UAW members build. I am proud of how our membership has worked hard to ensure the company’s success. Nobody builds ‘em more fantastic than you do. We need you and the rest of our teams at all our facilities to keep working hard and keep being the best,” Akerson told the employees in Toledo, where GM has had a presence since 1916.
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About the author: Mihnea Radu
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Mihnea's favorite cars have already been built, the so-called modern classics from the '80s and '90s. He also loves local car culture from all over the world, so don't be surprised to see him getting excited about weird Japanese imports, low-rider VWs out of Germany, replicas from Russia or LS swaps down in Florida.
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