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Benzinga
Benzinga
Business
Shivani Kumaresan

GM Invests $154M In Western New York Lockport Components Plant

GM New York Western General Motors Co NYSE
  • General Motors Co (NYSE:GM) plans to invest nearly $154 million in its Western New York Lockport Components plant. 
  • The company intends to use the investment to renovate the facility and purchase and install new machinery and equipment used in producing the stator module, a key component in an electric motor.
  • GM noted the electric motor stator module built at this plant would help power future Ultium Platform-based electric truck and SUV products.
  • GM currently estimates Lockport Components will add about 230 jobs between 2023 and 2026.
  • With more than 1,500 employees, Lockport Components currently produces radiators, condensers, heater cores, evaporators, HVAC modules, oil coolers, and other components used in various GM trucks.
  • Price Action: GM shares traded lower by 1.35% at $53.91 on the last check Friday.
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