We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
General Motors (GM) Invests $632M in Fort Wayne Assembly
Read MoreHide Full Article
General Motors Company (GM - Free Report) plans to invest $632 million in Fort Wayne Assembly to develop the plant for producing next-generation internal combustion engine (ICE) full-size light-duty trucks. This investment will consolidate General Motors’ industry-leading full-size truck business.
With this announcement, GM’s U.S. manufacturing and parts distribution facility has committed more than $31.6 billion in investment since 2013.
This investment will strengthen GM’s U.S. manufacturing operations, which include over 50 assembly, stamping, propulsion and component plants and parts distribution centers nationwide. It also underscores the automaker’s commitment to providing a strong portfolio of ICE vehicles to its customers in the future.
The Fort Wayne Assembly has manufactured the Chevrolet Silverado 1500 and GMC Sierra 1500. Both trucks emerged as the best-selling retail full-size light-duty pickups in 2022.
The investment will be utilized to support new conveyors, tooling and equipment in the plant’s body and general assembly areas.
Since 2013, General Motors has announced over $2 billion of investment in Fort Wayne Assembly and Operations and $2.8 billion in Indiana manufacturing operations.
Moreover, BrightDrop, a General Motors startup designed to offer an integrated ecosystem of electric first-to-last-mile products, delivered 50 of its Zevo 600 electric delivery vans to FedEx Express Canada. FedEx has signed a deal with BrightDrop to buy 2,500 vehicles in the coming years. Among those 2,500 vehicles, FedEx has received 400 that are already operational in Southern California.
General Motors has a compelling electric vehicle and ICE portfolio and is in great demand for its quality full-size pickups and full-size SUVs. The auto giant targets EV revenues of more than $50 billion by 2025
Some other top-ranked players in the auto space are Ford Motor (F - Free Report) , Mercedes-Benz Group AG and Wabash National (WNC - Free Report) , each carrying the same rank as GM.
Ford is one of the leading automakers in the world. The Zacks Consensus Estimate for F’s 2023 sales implies year-over-year growth of 7.5%.
Mercedes-Benz develops, manufactures and sells passenger cars, including premium and luxury vehicles. The Zacks Consensus Estimate for MBGAF’s 2023 sales implies year-over-year growth of 6%.
Wabash is one of the leading manufacturers of semi-trailers in North America. The Zacks Consensus Estimate for WNC’s 2023 sales and earnings indicates year-over-year growth of 12% and 90.7%, respectively.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
General Motors (GM) Invests $632M in Fort Wayne Assembly
General Motors Company (GM - Free Report) plans to invest $632 million in Fort Wayne Assembly to develop the plant for producing next-generation internal combustion engine (ICE) full-size light-duty trucks. This investment will consolidate General Motors’ industry-leading full-size truck business.
With this announcement, GM’s U.S. manufacturing and parts distribution facility has committed more than $31.6 billion in investment since 2013.
This investment will strengthen GM’s U.S. manufacturing operations, which include over 50 assembly, stamping, propulsion and component plants and parts distribution centers nationwide. It also underscores the automaker’s commitment to providing a strong portfolio of ICE vehicles to its customers in the future.
The Fort Wayne Assembly has manufactured the Chevrolet Silverado 1500 and GMC Sierra 1500. Both trucks emerged as the best-selling retail full-size light-duty pickups in 2022.
The investment will be utilized to support new conveyors, tooling and equipment in the plant’s body and general assembly areas.
Since 2013, General Motors has announced over $2 billion of investment in Fort Wayne Assembly and Operations and $2.8 billion in Indiana manufacturing operations.
Moreover, BrightDrop, a General Motors startup designed to offer an integrated ecosystem of electric first-to-last-mile products, delivered 50 of its Zevo 600 electric delivery vans to FedEx Express Canada. FedEx has signed a deal with BrightDrop to buy 2,500 vehicles in the coming years. Among those 2,500 vehicles, FedEx has received 400 that are already operational in Southern California.
General Motors has a compelling electric vehicle and ICE portfolio and is in great demand for its quality full-size pickups and full-size SUVs. The auto giant targets EV revenues of more than $50 billion by 2025
Zacks Rank & Key Picks
GM currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Some other top-ranked players in the auto space are Ford Motor (F - Free Report) , Mercedes-Benz Group AG and Wabash National (WNC - Free Report) , each carrying the same rank as GM.
Ford is one of the leading automakers in the world. The Zacks Consensus Estimate for F’s 2023 sales implies year-over-year growth of 7.5%.
Mercedes-Benz develops, manufactures and sells passenger cars, including premium and luxury vehicles. The Zacks Consensus Estimate for MBGAF’s 2023 sales implies year-over-year growth of 6%.
Wabash is one of the leading manufacturers of semi-trailers in North America. The Zacks Consensus Estimate for WNC’s 2023 sales and earnings indicates year-over-year growth of 12% and 90.7%, respectively.