General Motors to invest $2 billion in factories to boost auto production (17 plants in 8 states)

General Motors to invest $2 billion in factories to boost auto production
May 10, 2011
Bloomberg News

May 10 (Bloomberg) -- General Motors Co. will invest $2 billion in plants in eight U.S. states as it works to boost production and market share.

Chief Executive Officer Dan Akerson announced the plans today at a transmission factory in Toledo, Ohio, where GM will spend $205 million and retain 250 jobs. GM said it will announce the remaining portions of the investment, which will create or preserve 4,000 jobs at 17 facilities, in the coming months.

GM is growing less than two years after filing for bankruptcy protection in June 2009. The Detroit automaker's U.S. market share increased to 19.6% through April from 18.7% in the same period last year, according to Autodata Corp.

"It's not only good for GM, it's good for the United States of America," Chief Executive Dan Akerson told workers in Toledo. "We're committed to investing in the manufacturing infrastructure of this country."

Read more...http://articles.latimes.com/2011/may/10/business/la-fi-gm-20110510