GM's $325 Million Investment Into Electric Cars Creates, Maintains More than 400 Jobs
The "Occupy Wall Street" crowd's really not paying attention to the auto industry. Last week, Mercedes-Benz announced it was dropping more than $2 billion into its Tuscaloosa, Alabama, plant in preparation of a new model scheduled to debut in 2015. The autosphere speculates the new model will be the MLC crossover. Mercedes investment will add around 400 new jobs to the plant. General Motors also announced its expansion plans that week. The automaker, following up on the not-so-funny announcement of the Chevrolet Spark electric car, says it will be investing more than $320 million into its Warren Transmission facility in Warren, Michigan. The money will be invested into equipment and tools necessary for the production of electric vehicle components. GM's latest splurge is one of many for the automaker, which has been quietly developing electric motors since 2003. In 2009, the company received $105 million from the federal government to develop electric motors. Last year, the automaker invested more than $240 million into electric motor and electric drive facilities in plants in Pontiac, Michigan; Indianapolis, Indiana; Maryland and California. “This investment in the future recognizes the excellent work force and operation of this plant,” Gerald Johnson, GM manufacturing manager, said in a statement. “While we aren’t sharing many details about this product, I can tell you that this investment demonstrates how GM, working with our UAW partners, continues to innovate and bring new electrification solutions to our customers.” The cash infusion at the Warren plant is estimated to bring in or retain more than 400 jobs. Source: General Motors
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