General Motors Co. (NYSE: GM) is investing more than $29 million into its Bedford plant to produce parts for a new 10-speed transmission and an existing six-speed model. It is part of a $1.3 billion investment the automaker is making in five U.S. sites. December 16, 2013
FLINT, Mich. – General Motors will invest nearly $1.3 billion in five manufacturing sites in Michigan, Ohio and Indiana to produce new fuel-efficient engines and transmissions, enhance vehicle quality and streamline logistics. The investments combined will create or retain about 1,000 jobs.
The investments – announced today at GM plants in Detroit, Flint and Romulus, Mich.; Toledo, Ohio and Bedford, Ind. – will support production of a new V6 engine, new 10-speed transmission and an existing 6-speed transmission. They will also fund assembly plant upgrades, including a new paint shop and logistics optimization center.
Since 2009, GM has announced investments of about $10.1 billion in its U.S. operations – $2.8 billion in 2013 alone – creating or retaining more than 26,500 jobs.
“GM is committed to a strong American manufacturing base and creating jobs in dozens of communities throughout the country. Today’s announced plant upgrades continue the momentum of a resurgent auto industry,” said GM Executive Vice President and North America President Mark Reuss. “More importantly, these investments add up to higher quality and more fuel-efficient vehicles for our customers.”
Said UAW Vice President Joe Ashton, who directs the union’s GM Department:
“Today’s announcement is a win for American workers. The UAW is proud to be a part of this successful collaboration with GM that has helped rebuild the nation’s economy, created good paying, union jobs in communities across the country, and brought manufacturing that was moved overseas back to the U.S. This is further proof that collective bargaining works.”
GM’s nearly $1.3 billion investment includes:
$600 million in Flint Assembly for facility upgrades, including a new paint shop
$493.4 million in Romulus Powertrain Operations, which includes $343.4 million for equipment to produce an all-new 10-speed automatic transmission and $150 million to increase capacity of a previously announced new V6 engine
$121 million in Detroit-Hamtramck Assembly for a logistics optimization center
$30.6 million in Toledo Transmission Operations for increased capacity for an existing 6-speed transmission and tooling for a new variant
$29.2 million in Bedford Castings, which includes $22.6 million to produce components for the 10-speed transmission and $6.6 million to produce components for an existing 6-speed transmission
The 10-speed automatic transmission will contribute to improved fuel economy and performance. Details about this program and the new V6 engine will be announced later.
About General Motors Co.
General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. GM, its subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang, Opel, Vauxhall and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com.
Source: General Motors Co.