General Motors is looking to invest about $5.4 billion in its U.S. manufacturing plants to increase production by 2018.
The Detroit automaker has set aside about $9 billion for global capital spending this year, which is up from the $7 billion set aside in 2014, for new vehicle launches and to invest in new technology, according to General Motors.
"These investments are evidence of a company on the move, strategically investing in the people, tools and equipment to produce cars, trucks and crossovers that are built to win in the marketplace," GM North America President Alan Batey said this week in a press statement at the Pontiac Metal Center.
What we know so far is that GM will spend about $784 million on three Michigan plants, of which $520 will be spent on new equipment and tooling for vehicles made at GM's Lansing Delta production facility like the Chevrolet Traverse and Buick Enclave.
GM will spend $139.5 million to build a new body shop and stamping facility at GM's pre-production plant in Warren, Michigan, according to Reuters. The company also plans on investing $124 million in GM's Pontiac, Michigan stamping facility.
"The common thread among our investments is the focus on product improvements that benefit customers," said Cathy Clegg, vice president of GM North America Manufacturing, in a company statement.
"Together with our UAW partners, we're working hard to exceed consumers' ever-increasing quality expectations."
Earlier this week, GM was granted approval for $30 million in tax incentives from officials in Arlington, Texas, according to The Wall-Street Journal. This will allow GM to increase capacity at its SUV plant and add about 589 more jobs.
Details on the remaining $4.6 billion and plants involved will be outlined "over the next several months," according to GM.