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GM announces $1 billion investment in U.S., Trump takes credit

GM announces $1 billion investment in U.S., Trump takes credit

General Motors has announced an investment of $1 billion in manufacturing in the United States, in addition to the $2.9 billion announced a year ago.

The new investment will create or keep about 2,000 factory jobs, with 450 new pickup truck axle-making jobs being moved to MI from Mexico, and another 5,000 new white-collar positions that will come in the next two or three years.

The company announced it is investing US$1 billion in two existing plants, adding 2000 jobs.

While Trump has previously attacked GM for importing cars from Mexico, he has also criticised Ford Motor Company and Toyota for similar moves.

It's the latest odd twist in what has been an ongoing and often-surreal relationship between Trump and the auto industry that stretches back to the early days of the presidential campaign. "This is positive news that came at the right time as the automakers were facing capacity constraints in the U.S".

General Motors, days after being called out by President-elect Donald Trump for expanding operations in Mexico, plans to announce us investments totaling at least $1 billion that would create more than 1,000 jobs, two people with knowledge of the plan said late Monday.

"I hope that General Motors will be following, and I think they will be", he said.

A GM spokesman said the automaker plans to make an announcement Tuesday but declined to comment further. In its statement, the company said it has added 19,000 engineering, information-technology and other professional jobs over the last four years. That announcement came on the same day GM said it would invest $900 million at three USA plants.

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The article says that the move was not in response to any pressure from Trump but also said that they thought it was "good timing" to make the announcement now. The Michigan-based company reportedly imported more than 400,000 vehicles in Mexico previous year.

The Detroit News cited unnamed sources that said the production is coming to GM's Grand Rapids Operations plant at 1600 Burton Street SW.

Fiat Chrysler on January 8 said it would invest $1 billion in plants in MI and OH, adding 2,000 jobs to produce new Jeep vehicles. Fiat Chrysler committed US$1 billion toward making three new Jeeps in the USA and enabling a MI facility to manufacture a Ram pickup now produced in Mexico.

"These investments in manufacturing, these things take quite a long time", said Jessica Caldwell, senior analyst at the auto site Edmunds.

On Jan. 8, Fiat Chrysler said it would invest $1 billion at plants in Warren and Toledo so it can build three new Jeep models - the Jeep Wagoneer, Jeep Grand Wagoneer and Jeep Pickup. And it follows other investment US announcements made this month by cross-town rivals Ford and Fiat Chrysler.

Such a move would likely create a trade war with Mexico and would severely harm automakers that have spent billions building new plants and an supplier infrastructure in Mexico over the past 25 years.

GM says it's also pushing to create a network of suppliers located near its USA factories, similar to its "supplier parks" next to the Fairfax Assembly Plant in Kansas, Spring Hill Assembly Plant in Tennessee, Fort Wayne Assembly Plant in IN, and Lordstown Assembly Plant in Ohio.


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