GE Appliances says it will invest more than $3 billion over the next five years in its U.S. operations, workforce and communities. GE, which is owned by Chinese home appliance and consumer electronics company Haier Group Corporation, said the investment deepens GE Appliances’ commitment to technology development, product innovation and advanced manufacturing.
The August 13 announcement lays out a plan for the company to expand its air conditioning and water heating portfolio, increase production output across all product lines, and further modernize its 11 U.S. manufacturing plants with new automation and capital equipment. The first phase of investments will begin at GE Appliances plants in Kentucky, Alabama, Georgia, Tennessee and South Carolina.
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GE Appliances says the new commitment means it will have invested $6.5 billion across its U.S. manufacturing plants and nationwide distribution network since 2016. This $3 billion announcement marks the second-largest investment in GE Appliances’ history and that of the U.S. appliance industry — surpassed only by the creation of Appliance Park in the 1950s, the company’s global headquarters in Louisville, Kentucky.
“No other appliance company over the last decade has invested more in U.S. manufacturing than we have,” said Kevin Nolan, President and CEO of GE Appliances. “Our $3 billion, five-year plan shows that our commitment to U.S. manufacturing will continue into the future.”
After an acquisition from General Electric in 2016, Haier has the right to use the GE brand name until 2056.
