Detroit, Jun 11 (AP) Shares of General Motors rose before the opening bell after announcing plans to invest USD 4 billion to shift some production from Mexico to US manufacturing plants as the automaker navigates tariffs that could drive prices higher. President Trump signed executive orders in April, relaxing some of his 25 per cent tariffs on automobiles and auto parts, a significant reversal as the import taxes threatened to hurt domestic manufacturers. Also Read | Google Layoffs: Sundar Pichai-Led Tech Giant Introduces 'Voluntary Exit Program' Across All Departments, Offers Severance for Employees Who Leave. Automakers and independent analyses say the tariffs could raise prices, reduce sales and make US production less competitive worldwide. Trump portrayed the changes as a bridge toward automakers moving more production into the United States. GM said late Tuesday that the investment will be made over the next two years and is for its gas and electric vehicles. The company will add production of the gas-powered Chevrolet Blazer and Chevrolet Equinox, which are made in Mexico, to two American plants starting in 2027. The Blazer will be produced at GM's Spring Hill, Tennessee plant, while the Equinox will be made at its Kansas City, Kansas facility. Also Read | Khaby Lame, World's Most Popular TikTok Star, Leaves US After Being Detained by ICE in Las Vegas for Overstaying His Visa. GM will also begin making gas-powered full-size SUVs and light duty pickup trucks at its Orion Township, Michigan plant, which was previously being reconfigured to make electric vehicles until demand for such cars weakened. The new investment will give GM the ability to assemble more than 2 million vehicles per year in the US CEO Mary Barra said in a statement on Tuesday that GM is committed to building vehicles in the US and supporting American jobs. GM has 50 US manufacturing plants and parts facilities in 19 states, including 11 vehicle assembly plants. The company says that almost 1 million people in the US depend on it for their livelihood, including employees, suppliers, and dealers. Last month GM lowered its profit expectations for the year as it braces for a potential impact from auto tariffs as high as USD 5 billion in 2025. The automaker now foresees full-year adjusted earnings before interest and taxes in a range of USD 10 billion to USD12.5 billion. The guidance includes a current tariff exposure of USD4 billion to USD5 billion. GM previously predicted 2025 adjusted EBIT between USD 13.7 billion and USD 15.7 billion. Shares of General Motors Co rose almost 1 per cent before the opening bell Wednesday. (AP) (This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)
Related News
07 Jul, 2025
Trump calls Musk’s formation of new part . . .
17 May, 2025
Crystal Palace XI vs Man City: Starting . . .
23 May, 2025
Junior Champion, Edo’s Osaretin, Beats O . . .
23 Jul, 2025
Starvation-related deaths in Gaza mount . . .
11 Apr, 2025
CSK Batting Memes Go Viral As Chennai Su . . .
08 Jul, 2025
Support Boxing Just Like Cricket: Gold M . . .
22 Jun, 2025
Take note Wallabies - Pumas made Lions l . . .
14 Mar, 2025
Female leaders advocate gender parity at . . .