General Motors Invests $632M To Prepare Fort Wayne Assembly Plant For Truck Production

General Motors Company GM plans to invest $632 million in the Fort Wayne Assembly plant to produce the next-generation internal combustion engine (ICE) full-size light-duty trucks.

With the investment, the company will buy new conveyors, tooling, and equipment in the plant's body and general assembly areas, General Motors said.

GM has announced nearly $2 billion in investments for Fort Wayne Assembly and more than $2.8 billion in Indiana manufacturing operations since 2013. The company manufactures Chevrolet Silverado 1500 and GMC Sierra 1500 at the Fort Wayne Assembly plant. 

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.

Also Read: GM Doubles Down On Trucks With $200M Investment In Ontario Assembly Plant

"Today we are announcing a significant investment to continue our industry-leading full-size truck business by preparing Fort Wayne Assembly to build the next-generation ICE full-size light-duty pickups," said Gerald Johnson, executive vice president of Global Manufacturing and Sustainability.

This deal strengthens General Motors' U.S.-based manufacturing operations, which include more than 50 assembly, stamping, propulsion, and component plants and parts distribution centers nationwide.

The latest investment plan brings GM's U.S. manufacturing investments to more than $31.6 billion since 2013.

Price Action: GM shares are trading higher by 1.45% to $36.76 on the last check Monday.