GM just announced a new $491 million investment for its metal stamping operations in Marion, Indiana. The investment will support the production of steel and aluminum stamped parts for a variety of forthcoming products, including new GM electric vehicles.
The new investment will go towards the purchase and installation of two new press lines, complete press and die upgrades, and various other renovations, including a new 6,000-square-foot addition. Installation of these new upgrades are expected to ramp up later in the year.
The GM Marion Metal Center originally opened in 1956 as Fisher Body, and provides blanks, stampings, and sheet metal assemblies for various cars, vans, trucks, and SUVS manufactured throughout North America. The facility previously received four new presses following an investment made in 2010 and 2011. The facility currently employs over 750 team members, a figure which is expected to remain stable with the new additions.
“GM is making this investment because of the hard work and dedication of our UAW Local 977 members in Marion,” said UAW president and director of the General Motors and Gaming departments, Ray Curry. “The new stamping presses, upgrades and renovations associated with the investment will create job security for our members and help them care for their families and support their local community for years to come.”
Going forward, this latest $491 million investment is aimed at preparing the facility to support future GM electric vehicle production. Recent major investments to support GM EV production include $2.2 billion for the GM Factory Zero plant in Michigan (previously known as Detroit-Hamtramck), $4 billion for the GM Orion plant in Michigan, $2 billion for the GM Spring Hill plant in Tennessee, and $154 million for Lockport Components in New York.
GM hopes to reach 1 million units of annual EV production capacity in North America by the 2025 calendar year. GM states that it will launch 30 new EV models globally by mid-decade.
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Comments
For those of you who don’t recall, GM has recieved billions for “EV production” from federal and state governments. This is where it goes. Into a stamping plant where 98% of the product will go to ICE vehicles in Fort Wayne and lansing.
Yeah, it’s pretty easy to post record profits when the taxpayer…. Including Toyota buyers fund all your overhead. I can’t wait till the government te@@ dries up and everyone has to go back to trying to earn a profit honestly. I’d also like to see how many EV projects stay online once big daddy government is no longer footing the bil
Also, financially despite all the gov money, GM Isn’t doing so hot. Overall revenue is down because they’ve been selling less vehicles. It’s down almost 30% from 5 years ago. Only reason profits are up is because they are selling off inventory and not investing into ramped up production to replace it. That’s called a closout sale…….
Now add the fact that yes, even though they have “record profits” beating the last record by only 5% from 2016…. In the same timeframe that inflation rose at least 30%….. so profits down 25%, revenue down 50%, and inventory at all time Lows, while receiving record gov money that will dry out with the next congress!😬😬😬😬😬😬😬😬😬😬😬😬😬😬😬😬😬😬😬😬😬
Board members…….
FIRE.
BARA.
NOW!!!
Glad I don’t got GM stock, but I will next year… it will definitely be cheap in a bankruptcy year….. and bye bye EV’s. Chopping block first
Good news for my free red state!
GM closed Kalamazoo and Grand Rapids, Michigan the 2 best stamping plants in the corporation and left this **** plant open! Go figure?
Red state vs blue state
The Marion plant has some of the most highly skilled die makers in the country.