GM – $491M Goes to Indiana For EV Parts Making

Making the middle class great again….

General Motors (NYSE:GM) will spend $491 million at its Marion, Indiana metal stamping operations to prepare for making steel and aluminum parts for future products, including electric vehicles, built at multiple GM assembly plants. 

The announcement was made yesterday as President Biden was in Detroit saying: “American manufacturing is back. Detroit is back. America is back. And, folks, we’re proving it’s never, ever, ever a good bet to bet against the American people. Never, never, never.” …  “And, by the way, American manufacturing is roaring back. Just since I’ve been in office, we’ve already created 10 million new jobs – more jobs in that time period than any time in American history. (Applause.) The unemployment rate is 3.7%, near a 50-year low… Guess what? First year in office, we reduced the deficit by $350 billion. (Applause.)  And guess what? This year – this year, we’re on track, at the end of the fiscal year, to reduce the deficit by over $1 trillion.” Biden certainly had valid points.

The GM shareholder money will be used to purchase and install two new press lines, press and die upgrades, for renovations and construction of  ~6,000-square-foot addition. Work on the facility will begin later in 2022.

First opened in 1956, GM’s Marion Metal Center produces sheet metal parts for multiple GM assembly plants to support production of Chevrolet, Buick, GMC and Cadillac vehicles. Marion currently employs more than 750 team members and employment is expected to remain stable with the addition of this new work in the plant.

“This investment is another example of the company bringing everyone along and investing in the people who make manufacturing a competitive advantage for GM,” claimed Gerald Johnson, GM executive vice president of Global Manufacturing and Sustainability.

“The new stamping presses, upgrades and renovations associated with the investment will create job security for our members and help them care for their families and support their local community for years to come,” said Ray Curry, UAW president.