GM to Invest $450M in Michigan, Add 1,400 Jobs

Work tied in part to revision of Chevrolet Volt

   

GM to Invest $450M in Michigan, Add 1,400 Jobs

The Detroit Free Press is reporting that General Motors (GM) is set to announce Tuesday that it will add 1,400 jobs and $450 million to two Michigan facilities.

GeneralMotors185 GM to Invest $450M in Michigan, Add 1,400 JobsThe work is tied to a revision to the Chevrolet Volt.

Via the Detroit Free Press:

The company’s plans include a second shift at its Detroit-Hamtramck plant, where the automaker currently makes the Chevrolet Malibu, Chevy Impala, Cadillac ELR, Chevy Volt and foreign versions of these cars.

GM also plans to invest in its smaller Brownstown Township manufacturing plant, where the company currently produces batteries for the Volt.

The decision to keep a focus on the partially electric Volt shows a dedication to the future of electric vehicles.

The first incarnation of the Volt faced challenges in sales, even with a $5,000 cut to its price tag last year.

The Free Press notes that “sales fell 15% in the first quarter to 3,606 units. Sales fell 2% for 2013 to 23,094 despite the price cut.”

GM has struggled this year as Wall Street looked on the motor company with caution — with sales stagnation and recall problems.

GM is down 15% year to date.

More GM News


Article printed from InvestorPlace Media, http://investorplace.com/2014/04/gm-michigan-1400-jobs-general-motors-chevy-volt/.

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