GM is investing $7 billion in four Michigan manufacturing sites, as it pivots to electric vehicle (EV) production.
Like virtually every major automaker, GM is working to transition to electric vehicles. As part of that transition, GM has the goal of having “more than 1 million units of electric vehicle capacity in North America.”
The company has announced its single biggest investment in company history, a whopping $7 billion. The investment will help create 4,000 new jobs, as well as retain 1,000.
“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 U.S., and our North American EV production capacity,” said Mary Barra, GM Chair and CEO. “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 sees the investment as a way to vertically integrate its EV production, a major step toward its goal of converting half of its North American production to EV vehicles by 2030.
