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GM may spend $300 million to expand transmission plant (4 -6 speed trannys -2006)
GM may spend $300 million to expand transmission plant
November 21, 2002
BY JOE MILLER
BLOOMBERG NEWS
General Motors Corp. may spend as much as $300 million on an expansion at a Michigan factory to build new six-speed, rear-wheel-drive transmissions.
The world's largest automaker will decide in the next few months whether to make the investment at the Willow Run transmission plant in Ypsilanti, Michigan, spokeswoman Darla Park said. The transmissions probably would be used starting in 2005, she said.
The state of Michigan yesterday granted General Motors a $17.1 million tax credit covering a 20-year period for the proposed expansion. The company also has received a tax credit from the local government in Ypsilanti, Park said.
The new transmissions probably would be for "performance vehicles" starting with the 2006 model year and large sport-utilities beginning with 2007 models, she said. The Detroit-based automaker wants to expand its lineup and win back U.S. market share. General Motors had a 28.1 percent of the market last year, maintaining its share for only the second time since 1990.
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2008 C6 M6 Z51 NPP /2008 CTS AWD 3.6 DI FE2
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