Global automobile manufacturing giant General Motors (GM) announces its plans to invest $7 billion in four Michigan facilities to accelerate the production of electric vehicles (EV).
With the new investment, GM plans to start production of electric pickup trucks by 2024. General Motors says that the new investment will help in creating more than 4000 new job opportunities while exponentially increasing the production capabilities of electric trucks and battery cells.
It is a milestone development as this is the single largest investment that GM has ever made in its history. CEO and Chair of General Motors, Mary Barra, said, “Today we are taking the next step in our continuous work to establish GM’s EV leadership by making investments in our vertically integrated battery production in the US, and our North American EV production capacity.”
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She further added that GMC HUMMER EV, Cadillac LYRIQ, Chevrolet Equinox EV, and Chevrolet Silverado EV have all received excellent customer feedback and reservations since their recent electric vehicle releases and debuts.
Therefore, GM will construct a new Ultium cell battery plant in Lansing and the conversion of GM’s Orion Township assembly factory to support the p[roduction of its highly rated electric vehicles.
Once the facilities start operating at full scale, GM will be able to manufacture 600,000 electric trucks. The company expects to have the biggest EV portfolio of any carmaker, solidifying its route to EV leadership in the United States by the middle of this decade.
This investment, according to GM, is the next step in the company’s plan to become the EV market leader in the US by 2025.
“These important investments would not have been possible without the strong support from the Governor, the Michigan Legislature, Orion Township, the City of Lansing, Delta Township, as well as our collaboration with the UAW and LG Energy Solution,” said Barra.