GM Invests $154M In Western New York Lockport Components Plant

by Shivani Kumaresan, Benzinga Staff Writer

January 21, 2022 1:35 PM | 1 min read

General Motors Co GM plans to invest nearly $154 million in its Western New York Lockport Components plant.
The company intends to use the investment to renovate the facility and purchase and install new machinery and equipment used in producing the stator module, a key component in an electric motor.
GM noted the electric motor stator module built at this plant would help power future Ultium Platform-based electric truck and SUV products.
GM currently estimates Lockport Components will add about 230 jobs between 2023 and 2026.
With more than 1,500 employees, Lockport Components currently produces radiators, condensers, heater cores, evaporators, HVAC modules, oil coolers, and other components used in various GM trucks.
Price Action: GM shares traded lower by 1.35% at $53.91 on the last check Friday.

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