General Motors (GM) plans to invest a total of $71mn in two Ohio facilities to strengthen its manufacturing presence in the state.
Of the total investment, $39mn will be invested at GM’s Toledo Transmission plant to enhance its eight-speed rear-wheel-drive production, while it will invest the balance $32mn at the Defiance Casting plant to upgrade the facility’s engine casting component work, GM said in a statement this week.
Currently, the company has more than 3,800 employees in the state and plans to add another 240 jobs through this investment, the carmaker noted.
On Sep 30, GM’s deal with Nikola for an 11pc stake in the EV truckmaker was put on hold according to media reports, which did not disclose the reason for the delay. The deal was to be closed by Sep 30. However, GM confirmed it was still in talks with Nikola and would provide further updates soon.