General Motors (GM) to Invest Additional $1B in US
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Hyundai Motor to boost U.S. investment as automakers respond to Trump
January 17, 2017 2:13 AM ESTBy Hyunjoo Jin
SEOUL (Reuters) - The Hyundai Motor Group said it plans to lift U.S. investment by 50 percent to $3.1 billion over five years and may build a new plant there - the latest auto firm to announce fresh spending after President-elect Donald Trump threatened to tax imports.
Under pressure to deliver on campaign promises to revive U.S. industrial jobs, Trump has warned of a 35 percent tax on vehicles imported from Mexico, where many automakers have taken advantage of the country's lower labor costs.
Toyota Motor Corp , Ford Motor Co (NYSE:... More
General Motors says to invest additional $1 billion in U.S.
January 16, 2017 9:57 PM ESTBy David Shepardson
WASHINGTON (Reuters) - General Motors Co (NYSE: GM) on Tuesday confirmed it will invest an additional $1 billion in its U.S. factories in 2017 and will move some parts production from Mexico to the United States that was previously handled by a supplier.
The investments are in addition to the $2.9 billion the automaker announced last year, GM said. (http://bit.ly/2iJ9xw0)
GM and other automakers have been sharply criticized by Republican U.S. President-elect Donald Trump for building vehicles in Mexico that are imported into the... More
