General Motors Company (GM) Is Investing $167 Million In Tennessee Plant
General Motors Company (NYSE:GM) is going to invest $167 million in their Tennessee assembly plant for the production of two future vehicles. GM said that this investment will be an added investment on top of the $183 million that they were previously planning for the Spring Hill, Tennessee plant.
The Tennessee plant is currently used for building the Chevrolet Equinox SUV. Two future unspecified mid-sized vehicles will be added to the mix. The Spring Hill facility was previously used for building GM’s former Saturn brand between 1990 and 2007.
Vehicle assembly operations was ceased in late 2009, but power train work continued there after that. GM restarted assembly there in Q3 2012. GM announced that they were going to revamp the Spring Hill plant in November 2011 with the $183 million initial investment for future mid-sized vehicle.
The Spring Hill plant currently employs 2,000 people. This investment will create or retain 1,800 jobs.
[Source: GM]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry