- 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.
- Also See: Tesla Has A 'Competitive Moat' In This Area — Ford, GM Now Have A Chance Of Breaking It, Thanks To Biden: Analyst
- 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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