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zzyzzx
2017 Jan 17, 9:24am
General Motors Plans at Least $1 Billion in Fresh U.S. Investment
Auto maker’s move is expected to create more than 1,000 new jobs
Updated Jan. 16, 2017 7:53 p.m. ET
General Motors Co. this week will announce plans to invest at least $1 billion across several U.S. factories, two people familiar with the plan said, a move aimed at underlining its commitment to U.S. manufacturing jobs in the wake of President-elect Donald Trump’s criticism of the auto maker’s imports from Mexico.
GM’s announcement could come as early as Tuesday, the people briefed on the plan said. The company will cite a number of new jobs in excess of 1,000 stemming from the investment but doesn’t plan to specify which of its factories are in line for more work, one person said.
A GM spokesman declined to comment. The Trump transition team didn’t immediately return a request for comment.
The move comes days after Mr. Trump publicly ratcheted up pressure on the nation’s largest auto maker. During his press conference last week, the president-elect thanked Ford Motor Co. and Fiat Chrysler Automobiles for recently announced U.S. investment plans that are expected to create a combined 2,700 jobs. He then turned up the heat on GM to follow suit.
“I hope that General Motors will be following. And I think they will be,†Mr. Trump said.
In the interview, Mr. Glidden said GM has added 25,000 jobs over the last four years. Of those, just 6,000 were factory workers—the type of jobs Mr. Trump typically references in his comments on trade—and the rest were engineering, information technology and other white-collar jobs. About 15,000 of those were shifted from overseas, he said.
Can any corporation build under all the govt. regulations in the U.S. & sell products at the same price
as their outsourced products.
If they can't,who will buy at a higher price?
A 35% tariff wouldn't be passed on to the consumer. FMTT!
Why think about it? God trump is a financial GENIUS!
zzyzzx
2017 Jun 20, 10:34am
First they ruin the Focus with a dry dual clutch transmission, then they completely throw it under the bus by outsourcing production to China. Trump will fix this with tariffs.
"First they ruin the Focus with a dry dual clutch transmission, then they completely throw it under the bus by outsourcing production to China. Trump will fix this with tariffs."
And when he doesn't fix it with tariffs, will you wake up?
Booger
2017 Jul 22, 6:35am
If these automakers had used made in USA airbags, this would not have happened.
zzyzzx
2017 Aug 4, 7:08am
https://twitter.com/AP/status/893394077772898304
BREAKING: Toyota and Mazda say they will set up a $1.6 billion joint-venture plant in the U.S., creating 4,000 jobs.
Shaman
2017 Sep 17, 8:41am
What's the total amount spent by Rep/Con/Tea/Nazis on imports in the last 40 years?
Are these the same assholes that say;"We need good jobs!"
Treason should be dealt with by firing squad.
How much does your hypocrite Precedent & his family import each year?
All the jobs that Trump brings back will only use American workers,no robots
http://www.cnbc.com/2017/01/17/hyundai-motor-announces-3bn-us-investment.html
Hyundai Motor, South Korea's largest carmaker, says it will increase its investment in the US by 50 per cent over the next five years, to $3.1bn, as it seeks to capitalize on pledges by President-elect Donald Trump to boost the American economy.
The announcement comes just three days before the swearing-in of Mr Trump, who has threatened to slap hefty taxes on Mexican-built vehicles imported into the US.
Hyundai denied that the investment was a response to an intensifying Twitter assault by Mr Trump on global automakers for producing cars and investing in Mexico rather than in the US, but rather a reflection of the importance of the US market.
"We expect a boost in the US economy and increased demand for various models as president-elect Trump follows through on his promise to create 1m jobs in five years," Chung Jin-haeng, president of Hyundai Motor, told reporters in Seoul on Tuesday.
The company, and its affiliate Kia Motors - which together rank as the world's fifth-largest carmaker by sales - join a growing list of automakers to announce investments in the US in recent weeks.
Earlier this month, Japanese car group Toyota announced it would sink $10bn into the US market. That came hot on the heels of an announcement by Ford that it would cancel a planned $1.6bn plant in Mexico and instead build the facility in Michigan.
This week Mr Trump threatened BMW with a 35 per cent tariff on imports to the US from a new facility in Mexico.
Almost all car plants in Mexico are dependent on sales to the US with 60 per cent of the country's entire car output ending up in the US market.
Hyundai said that between 30 per cent and 40 per cent of the planned investment would be devoted to R&D and, in particular, to developing self-driving and eco-friendly technologies. Some money would also be spent on upgrading and retooling existing facilities in Alabama and Georgia, it added.
Mr Chung said the company may consider building another factory in the US, as well as producing its luxury Genesis vehicles there.
Hyundai has been trying to boost sales in the world's most profitable auto market, where its market share has held stubbornly at around 4.5 per cent. Its US sales including Genesis models rose 5 per cent last year to a record 761,710 units, but that was far shy of the double-digit growth it enjoyed in 2010/11.
In September, Kia opened a new facility in the Mexican state of Nuevo Leon, boosting its global manufacturing capacity by 400,000 to 3.55m vehicles. Some 80 per cent of the vehicles built at the plant are destined for export.
On Tuesday, the car company said it had no further plans to increase its presence in Mexico, although Mr Chung said the existing facility was a "source of worry".
#trump #hyundai #autos