General Motors said Thursday it will invest $331.8 million
into four powertrain plants located in Michigan, Ohio and Indiana. Bay City and
Flint will receive the most attention, getting $31.7 million and $215 million
respectively. The investments will help
GM build a more fuel-efficient transmission and an eight-speed transmission.
The large investments will not create any new jobs, however expected to retain
1,650 jobs.
These investments are part of the $1.5 billion GM reported
earlier this year it would invest in North American plants. GM has announced a
total of $1.2 billion of the sum to be invested this year.
The Flint plant will be getting the bulk of the money- $215
million- to build a small Ecotec engine and upgrade for the current v-6 engine.
GM said the new engine being constructed in Flint will be
part of a new family of engines that includes three-cylinder and four-cylinder
engines.
The Toledo operation will receive $55.7 million to help
boost capacity and production of an all new eight-speed automatic transmission
in addition to the six-speed transmission already being built there.
Very interesting! Unfortunate to see that it is not creating any new jobs here in Michigan... but at least it is assisting in retaining current jobs! It would be interesting to see how long this expansion will provided "additional" work for!
ReplyDelete