General Motors (GM) will invest $49 million to purchase tooling and equipment for the Bedford Powertrain plant and create 91 jobs, the carmaker said in a statement.
The all-new 8-speed transmission will improve fuel economy in a number of future vehicles, GM Manufacturing Manager Arvin Jones said Wednesday. And, the new gasoline engine, which will be offered in displacements from 1.0 liters to 1.5 liters, is key to fuel economy leadership in the small four-cylinder engine segment.
The Bedford investment is primarily for manufacturing machinery, equipment and special tooling for the current facility. The plant, which opened in 1942, is one of the leading aluminum die casting facilities in the world.
Bedford currently has 405 hourly and salaried employees.
Today's announcement is part of the $2 billion in U.S. investment that GM recently announced for 17 facilities in eight states. This is on top of $3.4 billion invested and 9,000 jobs created or retained in the United States since mid-2009, the statement further added.