General Motors Co. (GM) recently announced it plans to invest more than $7 billion in four Michigan manufacturing sites to increase battery cell and electric-truck manufacturing capacity.
The investment is the largest in company history and will retain 1,000 jobs and create 4,000 positions.
“Today, we are taking the next step in our continuous work to establish GM’s EV (electric vehicle) leadership by making investments in our vertically integrated battery production in the U.S., and our North American EV production capacity,” Mary Barra, GM chairwoman and CEO, said. “We are building on the positive consumer response and reservations for our recent EV launches and debuts, including GMC HUMMER EV, Cadillac LYRIQ, Chevrolet Equinox EV, and Chevrolet Silverado EV. Our plan creates the broadest EV portfolio of any automaker and further solidifies our path toward U.S. EV leadership by mid-decade.”
GM has set the goal of becoming North America’s EV market leader by 2025. This investment is part of that goal. It supports an increase in total full-size electric truck production capacity to 600,000 trucks at two of the facilities.
In addition, the company is investing more than $510 million in two Lansing-area vehicle assembly plants to upgrade its production capabilities.