Page 25 - ARUBA TODAY

BUSINESS Tuesday 28 January 2020
A25

GM to invest $2.2B in Detroit to build electric vehicles

DETROIT (AP) — General At that time the plant em-
Motors is spending $2.2 bil- ployed about 1,500 hourly
lion to refurbish an unde- and salaried workers. Cur-
rused Detroit factory so it rently the plant is working
can build a series of elec- on one shift with about 900
tric and self-driving vehi- workers making the Cadil-
cles, eventually employing lac CT6 and Chevrolet Im-
2,200 people. pala sedans.
GM said in a statement The factory will be shut
Monday that the factory down at the end of Febru-
will start building the com- ary, when renovations are
pany's first electric pickup expected to begin. The
late in 2021, followed by a general assembly area
funky-looking self-driving as well as the paint and
shuttle for GM's Cruise au- body shops will get major
tonomous vehicle unit. upgrades including new
The truck will be the first of machinery, conveyors and
several electric vehicles controls, GM said in a state-
to be built at the plant, ment. Mark Reuss, President, General Motors speaks at the GM Detroit-Hamtramck Assembly plant in
which straddles the border GM will also invest $800 mil- Hamtramck, Mich., Monday, Jan. 27, 2020.
between Detroit and the lion in equipment for parts Associated Press
enclave of Hamtramck. suppliers and other projects
The company has plans to related to the new electric Whitmer. tax credit was cut by $325 pala will cease at the end
revive the Hummer name- trucks. The announcement came million, to nearly $2.3 billion of February, at which point
plate for one of the vehi- The factory will be GM's days after Michigan's eco- through 2029. GM still has renovations will begin to
cles. first assembly plant to be nomic-development arm, to retain at least 34,750 jobs produce electric pickups
In November of 2018 GM fully dedicated to building the Michigan Strategic in Michigan — it has about and other vehicles. The
announced plans to close electric vehicles. Fund, agreed to revise tax 45,000 now — but got flex- plant will have 2,000 em-
the factory along with "Through this investment, breaks for GM in exchange ibility to count more jobs at ployees once it is at full ca-
three others in the U.S. But GM is taking a big step for- for the company's commit- its headquarters in Detroit pacity.
the company promised to ward in making our vision of ment to invest at least $3.5 and its research, devel- GM CEO Mary Barra has
reopen Detroit-Hamtramck an all-electric future a real- billion more over 10 years in opment and engineering promised an "all-electric
to build electric vehicles ity," GM President Mark Re- the state, including to build campus in the suburb of future," with the company
during last fall's contentious uss said in a statement. He electric vehicles at Detroit- Warren. restructuring to raise cash in
contract negotiations with was to announce the plans Hamtramck. The plant now employs part to develop 20 electric
the United Auto Workers Monday at the plant with The value of the auto- about 800 people. Produc- models that it plans to sell
union. Michigan Gov. Gretchen maker's maximum state tion of the Chevrolet Im- worldwide by 2023.q

Watchdog: China is 2nd

largest arms producer

behind the U.S.

COPENHAGEN, Denmark the past, a lack of transpar-
(AP) — China is the sec- ency has meant that the
ond-largest arms producer value of Chinese compa-
in the world behind the nies' arms sales has been ei-
United States but ahead ther unknown or difficult to
of Russia, a Swedish arms reliably estimate, SIPRI said
watchdog said Monday. to explain why the Chinese
The Stockholm Interna- arms companies previously
tional Peace Research were not included in its an-
Institute, or SIPRI, said the nual ranking of the world's
research is the most com- 100 largest arms-producing
prehensive picture of Chi- and military services com-
nese companies' weapons panies. SIPRI added that
production to date. In its with the increase of avail-
annual report, SIPRI said it able data on these com-
had "identified information panies, it is now possible
from 2015–17 on the value to develop reasonably
of arms sales by major Chi- reliable estimates of the
nese arms companies," and scale of the Chinese arms
looked at four companies industry and the four major
that cover three sectors of Chinese arms companies
conventional arms produc- chosen for the study "can
tion: aerospace, electron- now finally be compared
ics and land systems, "for with the major arms com-
which credible financial panies from the rest of the
information is available." In world."q