General Motors Plans $1B Manufacturing Investment In Flint Plants For Heavy-Duty Truck Production

General Motors Company (NYSE:GM) plans to invest more than $1 billion in two manufacturing sites in Flint, Michigan, to boost production of its internal combustion engine (ICE) heavy-duty trucks.
The auto-making behemoth will invest $788 million to prepare the plant to assemble the company's next-generation ICE HD trucks.
The company will invest $233 million in new stamping dies to support the production.
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This investment will enable General Motors to strengthen its industry-leading full-size truck business.
General Motors has announced more than $1.7 billion in investments for Flint-area operations in 2023.
The announcement brings the company's U.S. manufacturing and parts distribution facility investment commitments to more than $30.5 billion since 2013.
Last year, the company achieved a 38% increase in HD pickup sales year-over-year, with nearly 288,000 trucks sold. The 2023 Chevrolet Silverado HD was also the best-selling retail full-size HD pickup.
"Today we are announcing significant investments in Flint to strengthen our industry-leading full-size pickup business by preparing two plants to build the next-generation ICE HD trucks," said Gerald Johnson, executive vice president, Global Manufacturing and Sustainability.
Price Action: GM shares are trading lower by 0.06% to $34.26 on the last check Monday.