fbpx
Tuesday, May 17, 2022
No menu items!

GM’s $7 billion investment intensifies EV battle with Ford, Tesla

General Motors said Tuesday (January 25) it will invest $7 billion in Michigan, much of that aimed at dramatically boosting production of full-size electric pickups, intensifying a battle with rival Ford Motor Co for EV supremacy in North America.

Both U.S. automakers, however, will have to contend with current leader Tesla , which will soon open a second U.S. plant in Austin, Texas, and is on pace to sell more than 1 million electric vehicles globally in 2022.

GM said its Detroit-Hamtramck and Orion Township plants will be able to build more than 600,000 electric trucks a year by late 2024, with three other plants in Tennessee, Ontario and Mexico boosting the company’s total North America EV production capacity to more than a million units by late 2025.

At a press briefing Tuesday, GM Chief Executive Mary Barra said Detroit-based GM is “committed to make our home state the epicenter of the electric vehicle industry.”

GM’s investment includes $2.6 billion with Korean partner LG Energy Solution in a new battery cell plant in Lansing that will supply Orion Township and other GM assembly plants when it opens in late 2024.

GM also is spending $4 billion to overhaul and expand the Orion plant, which will build different variants of the new Chevrolet Silverado and GMC Sierra electric pickups.

(Production: Kia Johnson)

Latest News

Mastercard trials paying with your face

You may not have to grab your wallet or phone to pay when you go to a...

Man shot dead in north Harris County

HARRIS COUNTY - Deputies are investigating after a man was shot and killed in north Harris County Monday night.

After NY supermarket massacre, investigators look for missed warning signs

An investigation into the shooting of more than a dozen people in Buffalo, New York, turned on Monday to whether early warning...

Amber Heard testifies Johnny Depp assaulted her on their honeymoon

"Aquaman" actor Amber Heard told jurors on Monday (May 16) that Johnny Depp slammed her against a wall and wrapped a shirt...

Super Blood Moon seen over the U.S.

In parts of the U.S., the moon took on a reddish orange appearance, dubbed a Super Blood Moon on Sunday (May 15)...

More Articles Like This