00:00 Speaker A
General Motors is planning to invest $4 billion in its US plants over the next two years to mitigate the effect of tariffs. Here with more details, Yahoo! Finance senior autos reporter, Pras Subramanian. Pras, great to speak with you this morning. Talk to me about this $4 billion commitment.
00:20 Pras Subramanian
Yeah, Maddie. So, $4 billion dollars to augment their current plans to boost US production. Uh, this new investment will give GM the ability to assemble more than 2 million vehicles a year, create three to 4,000 jobs, isn’t union jobs. And the vehicles that’ll see more US production are the gas-powered Chevy Blazer and Chevy Equinox, which are both currently made in Mexico. Now, they’re coming to two separate plants in the US. And some gas-powered full-size SUVs and light-duty pickups like the Silverado, which are coming to Michigan. Uh, they are currently, some of these are currently built in Mexico as well. Now, this is in response to these 25% tariffs, uh, Section 232 tariffs of these on autos, and also USMCA imports. Though, there are some parts exemptions and, and the moves today are sort of seen as a long-term mitigation effort, GM says, not related to the mitigation that they’re doing right now to bring down some of the $4 to $5 billion in tariff costs they may see this year.
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