GM to invest $1B to retool plants for gas-powered heavy-duty trucks

General Motors (NYSE:) announced Monday its intention to invest more than $1 billion in the retooling of two mid-Michigan plants. This strategic move aims to equip the facilities for the production of a new wave of gas-powered heavy-duty trucks.

GM has outlined this year a total of $1.7B in investments in Flint facilities to support the next generation of its heavy duty pickups.

In a time when electric vehicles are getting most of the attention and funding, the announcement represents renewed investment in internal combustion engine-driven vehicles.

Despite the growing presence of electric vehicles in the automotive industry, gas-powered vehicles continue to dominate the market, comprising the majority of new cars and trucks on the roads. Although electric vehicles are experiencing growth, they still represent a small fraction of the overall vehicle population.

Last year, GM sold nearly 288,000 trucks with HD pickup sales, which rose 38% from a year earlier.

“When business is booming as it has been for the past decade — due to the hard work of UAW members — the company should continue to invest in its workforce,” Mike Booth, the UAW vice president in charge of the GM department said in a statement regarding the Flint investments.

Shares of GM are down 0.10% in afternoon trading on Monday.