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General Motors has announced a $1 billion investment to equip its Flint, Michigan manufacturing facilities for the production of next-gen internal combustion heavy-duty pickups. This strategic move bolsters GM's competition with Ford and Stellantis NV and is expected to drive more sales, fueling their expansion into the fast-growing electric vehicle market.
General Motors revealed its re-tooling plans for the Flint plants on Monday, June 5. As per Reuters, the company indicated that this year it would invest a total of $1.7 billion in the said facilities in preparation for the manufacturing of new HD pickups.
GM is dividing the distribution of its investments with $579 million set to be spent for the Flint Engine Operations to make the sixth generation of its V-8 combustion engine. It will spend $103.5 million for the improvement of another facility in Flint that supports the production of trucks.
CNBC further reported that $788 million would go to the Flint Assembly plant, where heavy-duty gas and diesel trucks are built. The firm will use another $233 million for its Flint Metal Center, which will assist with vehicle production.
In any case, when it comes to trucks, the Detroit, Michigan-headquartered vehicle maker competes with Ford Motor's Super Duty and the heavy-duty models of Stellantis NV's Ram pickups. These are said to be the best-selling trucks of the automakers and rivals of GM's models of the same vehicle type. Thus, with the re-tooling of the facilities, it hopes to make new-generation vehicles that will be better than its competitors.
It was noted that trucks being used for businesses are currently in high demand, and General Motors need more sales from them to help fund its investments in the production of electric vehicles, a business field that is growing fast today. Meanwhile, the company's spokesperson shared that the construction or renovations related to the investments are expected to start in the Q4 of this year.
