Benzinga | Jan 21, 2022 01:36PM EST

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

* General Motors Co (NYSE: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.