GM to invest additional $1 billion across U.S. supply chain

General Motors has announced plans to make a US$1 billion investment in its factories.

In all, the Detroit-based automaker said it will create or keep 7,000 jobs in the next few years, including about 2,000 at its factories. Another 5,000 new positions will be created at its auto financing arm and to develop advanced technology, electric and autonomous vehicles, and information technology.

The investments are in addition to the US$2.9 billion the automaker announced last year, GM said.

GM said the $1 billion investment will create or retain 1,500 jobs. The Detroit automaker said details of individual projects will be announced throughout the year.

GM also said it will begin work on bringing axle production for its next generation of full-size pickup trucks, including work previously done in Mexico, to operations in Michigan, creating 450 U.S. jobs.

The company also confirmed that a supplier will make components for GM’s next-generation full size pick-up trucks in Michigan, moving 100 supplier jobs from Mexico to the U.S.

“As the U.S. manufacturing base increases its competitiveness, we are able to further increase our investment, resulting in more jobs for America and better results for our owners,” said GM chairman and CEO Mary Barra in a statement. “The U.S. is our home market and we are committed to growth that is good for our employees, dealers, and suppliers and supports our continued effort to drive shareholder value.”