Salem Radio Network News Thursday, October 6, 2022

Business

GM to invest $491 million on metal stamping facility to help EV production

(Reuters) -General Motors Co said on Thursday it would invest $491 million to boost production of steel and aluminum stamped parts for future products, including electric vehicles, at its Marion metal stamping facility in Indiana.

The investment will be used to purchase and install two new press lines, complete press and die upgrades, renovations and expand the facility space by about 6,000-square-foot.

The automaker said that work on the facility will begin later this year.

GM’s Marion Metal Center, which started in 1956, produces sheet metal parts for multiple GM assembly plants to support production of Chevrolet, Buick, GMC and Cadillac vehicles. The center currently employs more than 750 workers.

(Reporting by Nathan Gomes in Bengaluru; Editing by Shinjini Ganguli)

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