General Motors’ Aerodynamic Laboratory in Warren, Michigan is 43 feet in diameter and can pump wind up to 415 mph. It’s the largest wind tunnel dedicated to automobiles in the world. It is this type of technology that will be upgraded by a just-announced investment of $1 billion.
The automobile industry’s General Motors, currently ranked “buy” on The Street, has recently seen an increase in net income, good earnings-per-share growth and return on equity, and a solid financial position with reasonable debt levels. The company designs, builds, and sells cars, crossovers, trucks and automobile parts worldwide, and is gearing up for further expansion into the global marketplace.
This comes after GM filed for bankruptcy in 2009 during the depths of the financial crisis. GM received a bailout of $49.5 billion, repaid $38.9 billion, leaving US taxpayers with a loss of $10.6 billion. The company repaid the loan by liquidating assets and $22.6 billion earned since restructuring.
Preparing to Fight Tomorrow’s Battles
Now, GM is looking to the future and has just announced a $1 billion investment to completely renovate its 60-year-old Tech Center campus, pictured below, in Warren, Michigan.
The main beneficiaries of the investment will be GM’s engineering and design employees who GM believes will soon have the environs and tools to be more competitive. GM will add 2,300 – 3,000 permanent jobs.
According to Mark Reuss, GM executive vice president for Global Product Development, “this is an investment in our people who work at the Tech Center because it is positioning the company for long-term growth by enabling new levels of innovation and collaboration.”
Following is a video explaining the investment:
References and related content:
- GM to invest $1 billion in Detroit-area tech center – SFGate
- The Wall Street Journal: GM to invest $1 billion in Warren, Mich., tech center | WOPULAR
- General Motors (GM) Plans $1B Investment in Warren Technical Center Campus