General Motors Announces $7 Billion Investment in Four EV Battery Factories
General Motors announced that it will be investing $7 billion in four EV battery manufacturing sites in its home state of Michigan. The automaker estimates the venture will generate 4,000 jobs and increase battery cell and electric truck manufacturing.
In a statement released by General Motors Chair CEO Mary Barra “Today, we shared exciting news about how General Motors will add more capacity to build more EVs and more batteries to power them, as we accelerate our transition to an all-electric future.”
General Motors plans on the construction of a new battery cell plant outside Lansing, MI and intends on converting their plant in Orion Township to the production of the Chevrolet Silverado EV and electric GMC Sierra. Once both plants are 100% operational, the company aims to produce approximately 600,000 electric trucks a year.
Orion Assembly is expected to be GM’s third US plant dedicated to the assembly of Ultium-powered EVs, and will have a hand in the production of over 1 million EV units in North America by 2025.
“With our investments in charging infrastructure, our dealer network and digital platforms for our customers, General Motors is well on its way to U.S. EV leadership by mid-decade,” says Barra. “We’ll have the broadest EV portfolio, with an EV for every lifestyle and price point.”
GM doesn’t plan on producing electric vehicles just for regular customers. It intends on developing zero-emission technology for other modes of transportation including rail, aerospace, marine and heavy trucking.