General Motors Company (NYSE:GM) Declares $1.3 Billion Investment In U.S. Manufacturing


Dallas, Texas 12/20/2013 (FINANCIALSTRENDS) – Latest from the administration’s sale of the last of its possessions in General Motors Company (NYSE:GM), the firm declared that it will make an investment of around $1.3 billion in five facilities crosswise the Midwest, producing or retaining around 1,000 jobs.

“General Motors Company is dedicated to a sturdy American manufacturing base and producing jobs in dozens of communities all through the nation. Today’s announced facility upgrades carry on the momentum of a resurgent auto business,” GM Executive VP and North America President Mark Reuss stated in a press release.

As per the well known firm, the facilities based in Mich., Toledo, Ohio and Bedford, Ind. Detroit, Flint, and Romulus, will create new fuel competent engines as well as transmissions, augment vehicle quality and streamline logistics.

GM’s U.S. VP of Chevrolet marketing quits

In another high-profile executive shuffle, General Motors Company (NYSE:GM) U.S. VP of Chevrolet Marketing Chris Perry stepped down from his place on Wednesday.

Mr. Chris, 53, had been working with the auto manufacturer since August 2010 and had held several marketing ranks.

“The company would like to thank Chris for his devotion and inputs, and wishes him well in all his upcoming attempts,” Alan Batey, executive VP of Chevrolet stated in an email report.

The auto maker declined to remark on the cause behind Mr. Perry’s quit.

Mr. Perry is the newest in a rising list of executive alterations as the auto manufacturer realigns itself, particularly within its Chevrolet biz. The auto manufacturer announced earlier this month it would stop selling the brand in the European zone and focus on promoting Opel.

General Motors to increase vehicle rates by around Rs 10,000

General Motors India on Friday announced it will increase rates of its entire series of vehicles by around Rs 10,000 from January 2014 with the aim to partially counterbalance impact of increasing input costs.