GM previously said it was considering upgrading the truck assembly plant to build its next generation of pickup trucks. The Allen County Council voted in October to approve a 10-year tax abatement that would save GM more than $15 million on a possible $1 billion investment in equipment and related improvements.
Private equity firms Carlyle Group and Onex Group fared well on their purchase of Indianapolis-based Allison Transmission, with the $763 million each put into the 2007 deal more than tripling in value.
General Motors, Ford, Nissan and Chrysler all reported big gains as the major automakers reported July sales Friday.
The automaker filed a tax abatement request for the Bedford factory project, saying it would add about 40 jobs and raise the plant’s employment to some 650 workers.
The automaker is recalling nearly 512,000 Chevrolet Camaro muscle cars from 2010 to 2014 because a driver’s knee can bump the key and knock the switch out of the “run” position.
General Motors Co.’s delayed decision to recall almost 2.6 million cars for ignition-switch defects is being investigated by Indiana Attorney General Greg Zoeller, a spokeswoman for his office said.
The automaker says 15 employees—many of them senior legal and engineering executives—have been forced out of the company for failing to disclose the defect linked to 13 deaths.
It's the maximum penalty that the government can impose and the first time an automaker has been fined that much. But the amount is less than a day's revenue for the automaker.
U.S. car buyers came out of hibernation in April to spend on pickup trucks and SUVs, fueling an auto sales rebound that analysts expect to last the rest of the year.
So far this year, automakers have recalled about 9 million vehicles in the U.S. If that pace continues, the nation would break the record of 30.8 million recalled vehicles set in 2004.
An Indiana plant will get $29.2 million to make parts for 10-speed transmissions and for six-speed transmission components. The Bedford facility has about 600 workers.
The U.S. government ended up losing $10.5 billion on the General Motors bailout, but it says the alternative would have been far worse.
When America was making the transition from horse and buggies to the horseless carriage at the start of the 20th century, the city of Anderson was a part of the innovation that changed how the nation would travel forever.
In Indiana, GM plans to spend $29.4 million for a metal castings plant in Bedford to make parts for small engines and for the new eight-speed and existing six-speed automatic transmissions.
In Kokomo, Chrysler plants rise with the resurgent automaker, while a GM plant across the highway hasn’t been so fortunate.
General Motors on Wednesday said it plans to move 80 jobs from Indianapolis to Pontiac, Mich., as part of a plan to expand its engine and transmission development headquarters.
Strong U.S. sales in December capped a remarkable year for the auto industry. U.S. sales of models manufactured in Indiana in 2012 by General Motors, Toyota, Honda and Subaru outpaced the national rate, rising 17 percent.
The Treasury plans to sell its remaining stake in General Motors over the next 15 months, allowing the automaker to shed the stigma of being partly owned by the U.S. government.
From mini cars to monster pickups, sales of vehicles charged higher in June and eased concerns that Americans would be turned off by slower hiring and other scary headlines.
Anderson officials said they are excited that companies have been showing interest in some of the industrial or commercial properties left by General Motors that need or are undergoing environmental cleanups.
