General Motors (NYSE:GM) – GM Prepares Marion Metal Center For All-Electric Future; Plans $491M Investment

  • General Motors Co GM plans to invest $491 million in its Marion, Indiana, metal stamping operations to prepare the facility to produce a variety of steel and aluminum stamped parts for future products, including electric vehicles.
  • GM intends to use the investment to purchase and install two new press lines, complete press and die upgrades, for renovations, and construct an approximately 6,000-square-foot addition. Work on the facility will begin later this year.
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  • First opened in 1956, GM’s Marion Metal Center produces sheet metal parts for multiple GM assembly plants to support the production of Chevrolet, Buick, GMC, and Cadillac vehicles.
  • Marion currently employs more than 750 team members.
  • Price Action: GM shares are trading higher by 0.75% at $40.96 on the last check Thursday.
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Image and article originally from www.benzinga.com. Read the original article here.