GM, Micron, Lockheed, and Other Major Companies are Reshoring Amid Supply Chain Strains

| Posted by unionwear

Thomas explains that large companies, including General Motors, Lockheed, Micron, Intel, and more are reversing the offshoring trend and bringing manufacturing jobs back to the USA.

Although the supply chain crisis has driven home the need to reshore manufacturing, other factors are also involved.  Many companies have realized that keeping processes closer to home can be much more reliable and secure.

General Motors, for example, will be investing $7 billion to build four electric vehicle (EV) manufacturing facilities in Michigan. The decision to build a new battery factory, convert an existing factory to focus on electric pick-ups, and upgrade two vehicle assembly plants, will create 4,000 jobs in Michigan, where GM was founded.

GM views this as a key tenet of their overall strategy, given that they have the largest EV portfolio of any automaker. The investment includes forging stronger links with reliable suppliers to ensure a more resilient and North American-focused supply chain.

Not only that, but there are also foreign-direct investments (FDI) coming in as well. Toyota is investing $1.29 billion into a battery factory in North Carolina, which should create 1,750 new jobs, and initially produce enough lithium-ion batteries for 800,000 EVs and hybrid vehicles a year, with plans to expand to up to 1.2 million.

Read more here.