GM’s Orion plant investment of $300 million will create 400 jobs

GM’s Orion plant investment of $300 million will create 400 jobs

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General Motors is intending investments of $300 million in its plant at the suburban area of Detroit, a facility that manufactures electric as well autonomous vehicles for Chevrolet and self-driving Cruise unit of GM, which will also add about 400 jobs, the company announced on Friday.

The automaker had committed to invest $1.8 billion to be spent on making the vehicles in the United States creating 700 new jobs to further support about 28,000 jobs across six states, and the current investment is also part of that commitment, the company said.

General Motor, which is the largest automaker in the United States, is in intentions of building new compact electric vehicle under Chevrolet brand and that will additionally be confirming the proposed United States, Mexico and Canada Agreement (USMCA), a revised free trade deal between North American countries, the company said.

As part of the USMCA deal, which still to be approved by the U.S. Congress, GM’s new electric vehicle which originally was planned to be built in its Chinese plants will now being built in the United States.

GM’s decision to stop making vehicles at its Lordstown, Ohio, assembly plant attracted much of the criticism by the President Donald Trump.

GM, said on Thursday, its executives will be joining with government officials and United Auto Workers union Vice President Terry Dittes at the Orion plant to announce the development of company’s future technologies by making major new investments.

GM’s Cruise AV and Chevrolet Bolt EV are assembled using compact infrastructure at Orion plant and same will be used to build the new vehicle.

An up gradation of Orion Township plant with the investment of $100 million before starting commercial production of the Cruise AV in late 2019 was announced by the GM a year ago.

The decision to invest and build new vehicle at Orion is described as sensible by the GM CEO Mary Barra, as she was viewing the workforce at Orion plant as capable of doing so, which is already building Chevrolet Bolt EV at that plant.

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I am an independent trader currency and commodity with about eight years of experience. I love the financial world because it is like one big puzzle and I hope we help each other out to solve the puzzle to help us realize our dreams. I received my BBA in Accounting (With Honors) - from The University of Texas - San Antonio. Achievements: Beta Alpha Psi National Accounting Honors Fraternity member, Leadership Challenge Participant, Dean's List. I have passed the Series 63, 22, Texas Real Estate exam, and the DRI Business Continuity exam.

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