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Investing.com -- GE Appliances announced plans to invest $3 billion to expand and modernize its U.S. manufacturing facilities over the next five years, a move aimed at reshoring production currently taking place in China and Mexico to help offset the impact of tariffs.
The appliance manufacturer, owned by China-based Haier Smart Home (SS:600690), will direct the investment toward factories in South Carolina, Tennessee, Georgia and Alabama.
According to the company, the funding will enable these factories to produce new models of water heaters, air conditioners, gas ranges and refrigerators.
The expansion is expected to create 1,000 new jobs across these facilities.
The strategic investment comes as many manufacturers reassess their global supply chains amid ongoing trade tensions and tariff considerations between the United States and countries like China.
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