DETROIT-General Motors, which announced last month that it would spend $11 billion in China in the next three years, says it will spend $16 billion in the US on its factories and company facilities here through 2016.
The automaker, which has 31 facilities in the US, including 12 assembly plants, has invested $8.5 billion in the U.S. since emerging from bankruptcy, including efforts to prepare for production for more fuel-efficient engines and vehicles, according to Bloomberg News.
:The $11 billion in capital that will be spent in China by 2016 is coming out of our joint ventures rather than Detroit and is far less than the approximately $16 billion in capital GM will invest in the U.S. over that time,” Selim Bingol, GM vice president of public policy, stated in a letter published in the Wall Street Journal.
GM is introducing approximately 20 new or refreshed vehicles in the US as part of a plan to increase profits. “Our investments in the US and China reflect our determination to remain No. 1 in the world's top two markets,” Greg Martin, a GM spokesman, says. See story at Bloomberg News.
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