GM will invest $893 million to build its next-generation V8 engines

Article by Christian Andrei, on August 26, 2010

To upgrade five of its factories in North America, General Motors Co. will be investing $893 million, according to three insider sources who asked to remain unanimous. This investment, which will be manufacturing engines, transmissions and other powertrain parts, will save 1,600 jobs.

The factories that will be getting the funding are the following: Tonawanda, N.Y.; Bay City, Mich.; Bedford, Ind.; Defiance, Ohio; and St. Catharines, Ontario. The Tonawanda plant will get the largest share of this investment.

GM spokeswoman Kim Carpenter said that the company will soon make the announcements but she declined to provide details. GM is raising its funds for fuel-efficient engines in order to meet the stricter standards that governments are imposing.

The demand for vehicles with an improved gasoline mileage is rising as fuel prices keep increasing and as governments push for lowered carbon emissions. Michael Robinet, vice president at research firm CSM Worldwide in Northville, Michigan, said that powertrain technology will be a major differentiator and that "heavy investment and improved fuel economy will be on every company's agenda."

"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," said Mark Reuss, president of GM North America. "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."

Topics: gm, investment

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

It looks like Porsche will be very busy throughout 2017 as it prepares for the eventual launch of its two new models this year – the 2017 Porsche 911 GT3...
by - January 23, 2017
Volkswagen Group’s dieselgate saga continues, but it appears the German company would be able to get out of trouble, but it would not be unscathed. This development comes as Volkswagen...
by - January 22, 2017
When a car has been in the market for nearly six years, it loses some of its luster and its customers tend to go for the all-new model with a...
by - January 22, 2017
Remember Zenos Cars, a British carmaker that specializes in designing and building lightweight and high-performance sports cars? If you are wondering how the company is faring with their E10 lightweight...
by - January 21, 2017
Mercedes-Benz has revealed that in 2017, its series 124 coupé will be celebrating its 30th anniversary. While this itself is a significant event, it will also mean that this model...
by - January 21, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries