GM Confirms $1 Billion U.S. Investment Plan

By Mike Colias 

General Motors Co. confirmed it will invest an extra $1 billion in its U.S. manufacturing operations and will bring in house some production now being done by a supplier in Mexico, days after President-elect Donald Trump ramped up pressure on the nation's largest auto maker to follow rivals in committing to create U.S. jobs.

GM said the investment would create or retain nearly 2,000 new manufacturing jobs. About 450 of those are needed as GM moves to make its own axles for the next generation of its full-size pickup truck, replacing a supplier that now makes them in Mexico.

GM also said it would add about 5,000 new salaried jobs "over the next few years," including new engineers working in "advanced technologies" and additions to its GM Financial captive-finance unit.

"The U.S. is our home market and we are committed to growth that is good for our employees, dealers, and suppliers and supports our continued effort to drive shareholder value," GM Chief Executive Mary Barra said in a statement.

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(END) Dow Jones Newswires

January 17, 2017 10:11 ET (15:11 GMT)

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