General Motors Co., the automaker 33 percent owned by the U.S. Treasury, will invest $163.2 million at two plants in Michigan and one in Ohio to expand production of small engines.
The investment will preserve 184 jobs in Flint and Bay City, Michigan, and Defiance, Ohio, the Detroit-based automaker said today in a statement. GM will increase output of the 1.4-liter, four-cylinder engine used in the Chevrolet Cruze compact, Chevy Volt plug-in hybrid and the replacement of the Chevy Aveo subcompact.
GM has announced $3.3 billion in investments and created or retained more than 8,000 jobs since emerging from bankruptcy last year, according to the statement. The automaker earned $4.77 billion in the first nine months of the year.
“This investment is essential in ensuring we can meet the expected high demand for the Chevrolet Volt, Chevrolet Cruze and a small car that will be produced at our Orion Township facility,” said Kathleen Dilworth, Flint Engine Operations plant manager.
GM rose 30 cents to $33.55 at 10:15 a.m. in New York Stock Exchange composite trading. The shares have risen 1.7 percent from their $33 offering price.