GM to announce $1B factory investment, new jobs

Jan 17, 2017

A major announcement from GM is forthcoming. $1 billion in company investment is planned.

DETROIT (AP) — General Motors is planning to invest $1 billion in U.S. factories and add thousands of new white-collar jobs.

The measures have been in the works for years, but were announced today after criticism from President-elect Donald Trump.

In all, GM says it will create or keep 7,000 jobs in the next few years, including about 7,000 at factories.

Another 5,000 new positions will be created at its auto financing arm, and to develop new technologies.

Trump has demanded that the auto industry build more cars in the United States. GM says these latest actions were planned well before the election -- but a spokesman acknowledged that it's a good time to announce new jobs in the U.S.

An analyst for Kelley Blue Book says the GM announcement is "mostly theater" to take advantage of the attention generated by Trump's tweets.

Still, Trump claimed credit for bringing auto jobs this morning on Twitter.