GM and Lockheed partner on defense manufacturing
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- General Motors and Lockheed Martin partnered to expand U.S. defense production capacity.
- The collaboration focuses on production readiness, supply chains, and advanced manufacturing efficiency.
- Lockheed Martin plans to invest $9 billion through 2030 to scale up munitions production.
General Motors (NYSE:GM) and Lockheed Martin (NYSE:LMT) launched a partnership to expand U.S. defense production capacity.
The U.S. Department of Defense facilitated the collaboration to address the growing demand for military products.
Lockheed Martin expects to invest $9 billion through 2030 to scale munitions production and upgrade manufacturing facilities.
Following the announcement, General Motors' share price was down at $83.42.
General Motors is spending $9 billion in capital and $7 billion in research and development this year.
Crosstown rival Ford Motor (NYSE:F) has also discussed supporting defense departments with several international governments.
