General Motors (GM) on Thursday announced a nearly $500 million investment into its Marion Metal Center to help ready the Indiana metal stamping plant to make parts for electric vehicles and other future products.
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The automaker's investment, which totals $491 million, will go towards renovating the Marion Metal Center and building a roughly 6,000-square-foot addition to it, GM said in a press release. It will also fund the buying and installation of a pair of new press lines and the finishing of press and die upgrades.
"While this investment prepares the facility for our all-electric future, it's really an investment in our talented Marion team and will keep the plant working for many years to come," Gerald Johnson, GM's executive vice president of global manufacturing and sustainability, said in a statement.
As part of the manufacturing process for the company's Chevrolet, Buick, GMC and Cadillac vehicle brands, the Marion facility makes sheet metal parts for other GM assembly plants, according to the release.
"The new stamping presses, upgrades and renovations associated with the investment will create job security for our members and help them care for their families and support their local community for years to come," Ray Curry, UAW president and director of the General Motors and Gaming departments, said in a statement.
The upcoming work on the plant, which is set to begin later in the year, comes after GM said in June 2021 that it will invest over $35 billion through 2025 as part of its growth strategy, including expanding its electric vehicle portfolio and constructing more domestic battery factories. The company has secured enough battery raw materials to achieve 1 million EVs annually in North America by 2025, it recently announced.