Trade Resources Company News GM Will Invest $16bn in Us by 2016.

GM Will Invest $16bn in Us by 2016.

General Motors (GM) is planning to invest about $16bn in its US factories and facilities by 2016.

The latest investment comes after the automaker revealed plans in April 2013 to spend about $11bn for its joint ventures (JV) in China.

GM Public Policy vice president of Selim Bingol said in a letter published in the Wall Street Journal: "The $11 billion in capital that will be spent in China by 2016 is coming out of our joint ventures rather than Detroit and is far less than the approximately $16 billion in capital GM will invest in the U.S. over that time."

The company's US investment corresponds to its chief executive officer Dan Akerson's strategy to increase operating margins to 10% in North America by mid-decade from 7.4% in the past three years.

Additionally, about $332m is being invested at GM's four powertrain facilities in the country to produce new engines and transmissions.

GM is also planning to unveil about 20 new or revamped vehicles in the US.

 

Source: http://manufacturing.automotive-business-review.com/news/general-motors-to-invest-16bn-in-us-by-2016-070513
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General Motors to Invest $16bn in US by 2016
Topics: Auto Parts