Washington, DC - Congressman John D. Dingell (D-MI15) made the following remarks today in response to General Motors’ announcement that it will repay the rest of its outstanding loans from the U.S. and Canadian governments today, as well as invest in production facilities in Hamtramck, Michigan.

“GM’s $5.8 billion dollar payment today to the U.S. and Canadian governments two months ahead of schedule is incontrovertible evidence of the company’s return to profitability.  This announcement, made not a year after GM emerged from bankruptcy, is all the more impressive because the company has until 2015 to pay off the original $8.1 billion in government loans.  Moreover, GM’s announcement today makes clear it is not squandering the taxpayers’ wise investment in the company’s future.

“I am confident that GM’s revitalization efforts will proceed successfully as the company keeps on selling the safe and fuel-efficient vehicles in demand by the American public and consumers all over the world.  In view of this, I am proud of GM’s announcement today that it will make an additional $121 million investment to build the award-winning Chevrolet Malibu at the Hamtramck, Michigan facility.  The same facility is also soon to be home to workers building Chevrolet’s plug-in hybrid, the Volt, and the fine working men and women there are already producing the beautiful Cadillac DTS and Buick Lucerne.  The two new Chevrolets at Hamtramck will be amongst the most eco-friendly available to American consumers.  This follows a series of a decisions by the company to invest in production right here in the United States, and particularly in Michigan, that are proof of GM’s commitment to getting the American taxpayer to most value for his dollar.  I look forward to GM’s continued success and eventual public stock offering.”