General Motors Co GMplans to invest $491 million in its Marion, Indiana, metal stamping operations to prepare the facility to produce a variety of steel and aluminum stamped parts for future products, including electric vehicles.
GM intends to use the investment to purchase and install two new press lines, complete press and die upgrades, for renovations, and construct an approximately 6,000-square-foot addition. Work on the facility will begin later this year.
First opened in 1956, GM’s Marion Metal Center produces sheet metal parts for multiple GM assembly plants to support the production of Chevrolet, Buick, GMC, and Cadillac vehicles.
Marion currently employs more than 750 team members.
Price Action: GM shares are trading higher by 0.75% at $40.96 on the last check Thursday.
