General Electric said on Thursday it plans to invest more than $450 million in its existing manufacturing facilities in the United States this year and hire more than 1,700 employees, in a bid to bolster its aerospace and energy businesses.
A woman stands in front of a General Electric sign during World Artificial Intelligence Conference, following the coronavirus disease outbreak, in Shanghai, China, September 1, 2022. REUTERS/Aly Songsaid on Thursday it plans to invest more than $450 million in its existing manufacturing facilities in the United States this year and hire more than 1,700 employees, in a bid to bolster its aerospace and energy businesses.
The move comes as the Boston-based conglomerate is wrestling with inflationary and supply-chain pressures, and is adjusting its prices to offset higher costs. The company, which operates 58 facilities in the U.S., said it will invest in cutting-edge equipment, facility upgrades, other improvements. The improvements are being made as GE is looking for ways to improve costs and inventory,The upgrade come ahead of the company's planned creation of two independent companies in energy and aerospace.
GE, which completed the spin-off of its healthcare unit in January, has plans to spin off its energy businesses, including renewables, into a separate company next year.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ReConnect Rondo gets $2 million federal grant to explore land bridge over I-94A nonprofit in Minnesota is working to reconnect the Rondo neighborhood by building a land bridge over I-94. Supporters say the five-block land bridge would help 'right the wrongs' of the decision to demolish parts of the predominantly Black neighborhood.
Read more »
Best Electric Car Lease Deals And Financing Incentives, March 2023Electric cars are more expensive than gas-powered rivals, but there's a growing number of appealing deals on them. Plus, they're cheaper to own than gas cars.
Read more »
2023 Hyundai Kona Electric: 258 Miles EPA Range, No Federal Tax CreditContinuing our overview of EV offer in the United States, let's take a look at the Hyundai Kona Electric, one of the top small all-electric cars on the market.
Read more »
Editors’ Picks February 2023 | Audi RS 3, electric G80 and a longtime favoriteThese three vehicles are our Editors' Picks for February 2023.
Read more »
New 2023 Kia EV9 electric SUV revealed soonCAR magazine UK reveals details of the new Kia EV9 electric SUV, with pictures, specs and more
Read more »
Dfens eMissions Electric Bushmaster & Electric Military ATVsAs defence forces are electrified around the world armies will move from defence with emissions to Dfens eMissions.
Read more »