General Motors Co. (NYSE:GM) will be investing nearly $1 billion in strengthening its gasoline vehicle lineup, with over $340 million in new investments aimed at bolstering its U.S. manufacturing plants.
GM Bullish On Gasoline
The $340 million investment includes a $300 million commitment towards the Romulus, Michigan, plant, while the plant in Toledo, Ohio, will get an extra $40 million, Business Insider reported on Wednesday. Both plants manufacture key elements of GM’s Internal Combustion Engine (ICE) efforts, including a 10-speed transmission.
“The demand for EVs didn’t go as quickly as we thought,” Mike Trevorrow, who is GM’s senior vice president of global manufacturing, said in a statement in the report. However, Trevorrow reaffirmed that the automaker wasn’t going to get rid of EV production.
Notably, recent reports suggested that the automaker had shut down development of the next-generation EV pickup truck amid declining sales.
Meanwhile, GM’s other investments include a $150 million investment in a casting plant in Saginaw, Michigan, as well as a nearly $505 million investment in its Ontario, Canada, plant to produce next-generation V-8 engines, according to a Reuters report on Wednesday.
GM On Chinese Vehicles
While the advent of Chinese vehicles in the global auto market shows little sign of wearing off, GM remains confident in its product range.
“We believe we build the best vehicles at the best values through any of those markets,” Trevorrow said in the Business Insider report, adding that since the Chinese vehicles were relatively new, they could face “reputation” challenges.
GM’s Earnings
GM, during its first quarter 2026 earnings call, reported adjusted earnings per share of $3.70, which exceeded the analyst consensus estimate of $2.62 per share. While revenue was down 0.9% YoY to $43.624 billion, it still beat the market consensus of $43.542 billion. GM also took on a $1.1 billion charge tied to supplier claims as it rolled back EV programs.
The automaker recorded a $500 million relief in the form of refunds from President Donald Trump‘s tariffs, also updating its 2026 tariff expenses to an expected $2.5 billion to $3.5 billion, which is down from over $3 billion to $4 billion.
According to Benzinga Edge Rankings, GM scores well on the Momentum and Value metrics, while also providing a favorable price trend in the Long term.
Price Action: GM was down 3.07% to $76.53 during pre-market trading on Thursday.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
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