General Motors Plans $920M Investment In Ohio Diesel Engine Plant: Report

General Motors Co GM reportedly plans to expand its operations at the Ohio diesel engine plant.

The company stated that it was investing $920 million to expand operations at its Ohio diesel engine plant to produce future internal combustion engine (ICE) heavy-duty truck powertrain products, reported Reuters.

GM plans a 1.1-million-square-foot expansion and installation of new technology and equipment at its Brookville, Ohio, diesel engine facility, mentioned the report.

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General Motors committed more than $3.2 billion in investments in June to support next-generation ICE production, despite its pledge to phase out new gasoline and diesel vehicles by 2035 in favor of electric vehicles, the report added.

On June 5, General Motors said it plans to invest more than a billion dollars in two of its Flint, Michigan manufacturing sites to prep them for the production of heavy-duty combustion engine trucks.

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On June 12, GM said it plans to invest $632 million in the Fort Wayne Assembly plant to produce the next-generation internal combustion engine full-size light-duty trucks.

Price Action: GM shares are trading lower by 0.20% at $37.24 on the last check Wednesday.