General Motors Company (NYSE: GM) join other automakers to create jobs in the U.S. The company announced on Tuesday to invest $1 billion in the U.S. plants and create 1,500 new jobs.
The largest U.S. automaker said the $1 billion investment will be made into GM’s several existing facilities in the U.S. over several years, adding or retaining about 1,500 jobs in the nation. The move came after two South Korea’s automakers announced to increase investment in the U.S. earlier Tuesday. Hyundai Motor Co. and affiliate Kia Motor Corp said they will invest $3.1 billion in the U.S. over the next five years, compared with a $2.1 billion investment in the five years through 2016.
Earlier last week, Ford Motor Co. and Fiat Chrysler Automobiles NV also announced their investment plans in the U.S. under the pressure from President-elect Donald Trump to bring back jobs to U.S.
"With all of the jobs I am bringing back into the U.S. (even before taking office), with all the new auto plants coming back into our....country and with the massive cost reductions I have negotiated on military purchases and more, I believe the people are seeing "big stuff." Trump said in two tweets.
“All of the decisions behind today’s announcement are good business decisions and they have been in the works for some time," said GM spokesman Pat Morrissey. “There’s no question there is an emphasis on job creation in the U.S. right now. This was good timing for us to share what we are doing, including our ongoing commitment and track record for U.S. investment over the last several years.”