"We don't like it", Trump said, adding "I believe they'll be opening up something else". "They better put something else in", Trump, who has pushed for more manufacturing jobs throughout his nearly two years in office, said.
It was not immediately clear whether the president has the authority to halt those payments on his own.
GM and its rivals are facing rising bills for technological transformation, increased risks from U.S. trade policy and investors reluctant to fund their traditional product strategies.
The Detroit automaker - which USA taxpayers saved from collapsing with a $51 billion bailout a decade ago - announced Monday that it was ceasing production at five North American plants, including a facility in White Marsh that employs almost 300 people. Barra said the industry is changing rapidly and moving toward electric propulsion, autonomous vehicles and ride-sharing, and GM must adjust. "These are things we are doing to strengthen our core business". By that schedule, GM would no longer qualify for the credit after the first quarter of 2020. The Detroit automaker acquired 80 per cent of the German company in 1929 and purchased the remaining 20 per cent in 1931.
U.S. President Donald Trump demanded General Motors Co. add a new product to replace a plant in OH that the company said it planned to close next year due to lagging small-car demand. GM will also cease production of several vehicle models, including the Chevrolet Cruze and the Buick LaCrosse.
America's biggest vehicle maker said the move was in response to changing customer tastes, with SUVs and pick-up trucks favoured over sedans that once ruled the country's roads.
The U.S. automobile manufacturer announced Monday it plans to cease work on the Chevrolet Cruze at a Lordstown, Ohio, plant and on three Chevy, Buick and Cadillac models at a Detroit-Hamtramck facility in MI.
Congressman Bill Johnson said he was very disappointed about GM's decision to close the plant, but was hopeful for the future.More news: Chinese consulate in Karachi attacked by gunmen, 3 terrorists, 2 policemen killed
"We need to make sure that we are well positioned to compete, not just over the next few years, but well beyond", she said. The expenditures to bring those vehicles to production will start to hit with new batteries and body architectures created to generate profits. She said the company could increase its investments in electronic and autonomous vehicles.
Early reports indicated that GM's layoffs are the result of steel tariffs levied by the Trump administration in its fledgling trade wars with China, Canada, and the European Union, but GM says that no one factor led to the layoffs.
"GM is committed to maintaining a strong manufacturing presence in the US, as evidenced by our more than $22 billion investments in USA operations since 2009". -Canada border, and from its main North American unions.
General Motors Co.'s pre-emptive strike to get leaner before the next downturn likely will be followed by Ford Motor Co., which has said it is restructuring and will lay off an unspecified number of white-collar workers. Some UAW workers could land jobs at other GM factories, but many will face uncertain futures unless GM reverses course.
Canadian Prime Minister Justin Trudeau said he spoke to Barra on Sunday to express his "deep disappointment" with the closure.
Trump told reporters he was not happy with GM's decision to idle a plant in Lordstown, Ohio. General Motors, in July, said Trump's tariffs would cost it more than $1 billion over a full year and the company's chief financial officer told Reuters that GM would deal with those added costs by "negotiating price reductions with suppliers, raising prices on more popular models, and cost cutting".
The move is expected to save GM a lot of money and to help make it competitive with companies like Amazon, Google, and Tesla, which aren't traditional automakers, but are dipping their toes into the auto-making industry with fully electric, low-cost, and even self-driving options for consumers. The Detroit-based company's shares surged on the plan.