GM already tops $1.5 billion investment plan for 2013
DETROIT- General Motors Co. has already exceeded its goal of announcing more than $1.5 billion in new investments this year for production facilities in North America.
Following two Wednesday announcements totaling $344 million, the Detroit-based automaker’s announced investments total about $1.82 billion with six months to go in 2013.
Bill Grotz, a GM spokesman, confirmed the amount of announced investments withMLive, but would not comment on any future investment plans or announcements.
GM North America President Mark Reuss initially announced the $1.5 billion plan during the Automotive News World Congress in January.
“GM, Chrysler and Ford employ two out of every three autoworkers in the U.S., and base more employees in the U.S. than the competition – by a factor of eight,” Reuss said according to prepared remarks for the congress Jan. 16 in Detroit. "For our part, GM has announced North American facility investment of over $10.2 billion since July 2009, creating or retaining more than 26,500 jobs.”
This year’s announced investments now bring that number to $12 billion since four years ago, when the automaker emerged from a government-backed bankruptcy as part of the 2008-2009 automotive bailout.
General Motors President North America Mark Reuss addresses the gathering at the Automotive News World Congress Wednesday, January 16, 2013 in Detroit, Michigan. (Photo by John F. Martin for General Motors)
Of the already double-digit major production investments announced by GM this year, Michigan has benefited from about half of them to a tune of $537.2 million.
The announced 2013 investments come as GM is set to replace 70 percent of its U.S. lineup this year with new or significantly redesigned models.
The investments impact three countries, a hand full of states and more than a dozen GM facilities.
Here’s a calendar of the investments with links to more details:
Jan. 16
- GM North America President Mark Reuss announces the $1.5 billion investment plan at the 2013 Automotive News World Congress.
Jan. 28
- $600 million at Fairfax Assembly and Stamping Plant in Kansas for a new 450,000 square-foot paint shop, the installation of a new stamping press and other upgrades.
Jan. 30
- $200 million into its Global Powertrain Engineering Headquarters in Warren to build a new 138,000 sq.-ft. test wing. Under the expansion plan, engineering development work currently being done at leased facilities in Wixom, Mich.; Castleton, Ind. and Torrance, Calif., will move to Pontiac. Also, GM R&D’s Propulsion Systems Research lab in Warren will relocate to the Pontiac campus.
- $3.5 million to move Performance Build Center, currently located at the Wixom facility, to GM’s Chevrolet Corvette assembly plant in Bowling Green, Ky., by the first quarter of 2014.
March 8
- $250 million investment in the CAMI Assembly Plant in Ingersoll, Ontario to install flexible body shop equipment and tooling, converting the manufacturing facility to support future vehicle production.
April 4
- $331.8 million in six facilities, including $246.7 million for facilities in Flint and Bay City to support production of a new Ecotec small gas engine, a new V6 engine, eight-speed transmission and tooling for an existing six-speed transmission.
- $41 million to increase a previous announcement to $256 million for Saginaw Metal Castings Operations to produce castings for the new V6 engine.
- $5 million to increase a previous announcement to $390 million for Romulus Engine Operations to build the new V6 engines.
May 21
- $44.5 million in a new, 400,000-square foot Logistics Optimization Center at the automaker’s Lansing Grand River Assembly plant.
June 26
- $211 million to expand the Toluca Complex to build higher performing, more fuel-efficient powertrains in Mexico.
- $133 million to add a third stamping press for production of its next-generation mid-size pickup trucks at its Wentzville Assembly and Stamping plant in Missouri.
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