General Motors today announced the company will invest more than $890 million to create or retain more than 1,600 jobs in five North American plants. The plants will focus on producing a new generation of fuel-efficient small block truck and car engines. This comes on the heels of last week'sthat GM made the last payment of $5.8 billion to the U.S. Treasury and to Export Development Canada--paying back loans in full and ahead of schedule.
The engine production plants that will benefit from this latest investment will include Tonawanda, New York; an investment of $400 million will result in more than 710 jobs. And, St. Catharines, Ontario, Canada; an investment of $235 million will create about 400 jobs.
The three plants that will support engine casting and component production are Defiance, Ohio; an investment of $115 million will result in up to 189 jobs. An investment of $111 million will result in about 245 jobs in Bedford, Indiana. And, in Bay City, Michigan; an investment of $32 million will keep or create more than 80 jobs.
This latest investment will include facility renovation and installation of new, highly flexible engine machining and assembly equipment and special tooling designed for manufacturing efficiency and engine quality. At the casting facilities, investments include expansion of semipermanent mold and precision sand casting technologies that result in a high degree of dimensional accuracy and material strength properties needed to support the newer, more efficient engines, according to the company.
"GM is investing in our plants, restoring and creating jobs and making progress toward our vision of designing, building and selling the world's best vehicles," President of GM North America, Mark Reuss, said in a news release. "These latest investments show our commitment to improving fuel economy for buyers of every GM car, truck and crossover and giving them the best possible driving and ownership experience."