GM to Invest US$918 Million in ICE, EV Component Production

US automaker GM announced a US$918 million investment for four of its US plants to produce V-8 gasoline engine and EV components. The company said that these investments aim to boost its full-size truck and SUV segments, while also supporting its EVs.

"Today we are announcing significant investments to strengthen our industry-leading lineup of full-size pickups and SUVs by preparing four US facilities to build GM’s sixth generation Small Block V-8 engine,” says Gerald Johnson, Executive Vice President of Global Manufacturing and Sustainability, GM.

GM’s US manufacturing facilities will be strengthened by these investments, especially those for assembly, stamping, propulsion and component production, says the company. These actions underline the firm’s resolve to continue offering a robust lineup of ICE vehicles in the medium and long term, while preparing for the transition to an all-electric future. 

Johnson highlighted the importance of the company’s electromobility work and praised the ability of its manufacturing team to produce components for both ICE vehicles and EVs. “These investments, coupled with the hard work and dedication of our team members in Flint, Bay City, Rochester and Defiance, enable us to build world-class products for our customers and provide job security at these plants for years to come,” adds Johnson.

After a meeting between the US automaker and Minister of Economy Raquel Buenrostro, GM’s subsidiary in Mexico announced that its assembly plant in Ramos Arizpe, Coahuila, will exclusively assemble EVs by 2024, according to the Ministry of Economy. The company also created 4,500 jobs in its plants in Ramos Arizpe and San Luis, according to the press release.

GM is one of Mexico’s most important automakers, with more than 21,000 employees across its four manufacturing facilities in Toluca, Silao, San Luis Potosi and Ramos Arizpe, as well as its engineering center in the State of Mexico and its headquarters in Mexico City. The US automaker started operating in Mexico over 87 years ago.

Last year, GM announced plans to manufacture three EVs in the country: the Chevrolet Silverado EV, Blazer EV and Equinox EV. With this, the company aims to have a fully electric model at “nearly every price point and for every purpose,” said Mary Barra, Executive Chef, GM, as reported by MBN.