GM to invest $918 million in new V-8 gas engines and EV components
Publishing timestamp: 2023-01-20 12:47:21
Summary
General Motors is investing nearly $1 billion in four US plants to support production of components for electric vehicles and its next generation of V-8 engines, signaling that gas-powered vehicles will remain in the foreseeable future. The majority of the investment will go towards preparing GM's Flint Engine Operations plant in Michigan for the sixth-generation family of small-block V-8 gas engines. The remaining investments will go towards other parts operations in Michigan, Ohio and New York for gas-powered parts and castings to support future EVs. The UAW union welcomes the investment in both traditional operations and EVs.
Sentiment: MIXED
Tickers: GM,
Keywords: business news, united states, general motors co, flint, business, electric vehicles, breaking news: business, autos, transportation,
Source: https://www.cnbc.com/2023/01/20/gm-investing-new-v8-engines-ev-components.html