More than $500 million is heading towards General Motors Arlington Assembly.
With the new investment, the plant expects to produce the next cycle of internal combustion engine (ICE) full-size SUVs. The Arlington plant exports cars to over 30 countries and assembles the Cadillac Escalade, GMC Yukon and Chevrolet Tahoe and Suburban.
It is unclear exactly when the Arlington plant will begin producing GM’s next cycle of SUVs and exactly what products will be included.
Investment in the Arlington Assembly is expected to complement GM’s larger U.S. manufacturing operations. Gerald Johnson, GM’s executive vice president of global manufacturing and sustainability, said the company has plans to announce $3 billion in investment across its national plants and distribution centers over the next 10 days. The company has more than 50 plants and distribution centers across the country.
GM has funneled more than $2 billion into the Arlington Assembly since 2013. With the $500 million investment, the plant will receive new equipment and tooling for general assembly, body shop and stamping areas.
The investment is focused on equipping the Arlington facility for the next cycle of production and maintaining opportunity for the existing jobs at the GM Arlington plant, Johnson said. It remains to be seen if some new jobs could be created with the investment.
“We have more than 4,000 people who work really hard, who are great problem solvers in order to figure out every day how to produce nearly 1,200 vehicles a day at quality levels that are industry leading on a vehicle that we can’t seem to get enough of in terms of the customer demand,” Johnson said.
“How well they’re able to do that lively as a team consistently on behalf of themselves, Arlington, the Arlington community, Texas and General Motors is something we’re recognizing. $500 million is a good way to do it.”
More than 34,000 new vehicles rolled out of General Motors Arlington assembly plant in March, setting a new record for the number of cars ever produced in one month across the plant’s 70-year history in North Texas.
The facility at 2525 E. Abram St. currently employs more than 5,600 people. GM is still in conversation with local government officials about opportunity for tax incentives, Johnson said.
“This community and this economy gets the benefit of having those moneys flow through their economy that supports grocery stores and movie theaters and all the things that have come that you see here,” Johnson said. “I have been coming to Arlington for a long time. A lot has grown around this area, and I think we had a part to play in that.”
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
