Obama to tour Big Three auto plants a year after bankruptcies

President Obama will travel to the Midwest later this month to visit the plants of the "Big Three" U.S. auto companies.

The president will visit Chrysler and General Motors plants in Detroit on Friday, July 30, and a Ford plant in his hometown of Chicago on August 5, according to the White House.

The trips will underscore the progress the companies have made since the Obama administration extended financial assistance to GM and Chrysler in 2009, which ended up in the bankruptcy and restructuring of those companies.

"Just over a year after President Obama made tough decisions to save Chrysler and GM, these companies are returning to profitability, hiring workers, and keeping plants open," the White House travel announcement boasted. "And because of the steps the Administration and Congress have taken with Cash for Clunkers and the Recovery Act, the industry overall is strengthening."

The trips come roughly a year after GM and Chrysler emerged from bankruptcy in a controversial move that saw the administration take an equity stake in GM, and sell Chrysler off to the Italian automaker Fiat.