The electric vehicle industry has gained momentum in recent years. Many giant automobile companies continue to make large investments in this area. General Motors, which wants to be at the forefront of this race, continues its investments without slowing down. The company, which started working on the production of environmentally friendly Lithium batteries last year, is preparing for a large-budget investment again.
Electric motor move from General Motors
General Motors, which pressed the button for battery production last year, announced that they would produce electric motor components.
General Motors invested $7 billion
General Motors, which has not ceased to invest in the electric car world, had just pressed the button for the production of electric motor components a few days ago. Announcing that it will build a new facility at the Lockport Components factory in New York, the company announced that it has pressed the button for a huge investment of 7 billion dollars in Michigan. This amount was the largest investment in its 112-year history.
Details about this big investment were also shared. The largest share of the investment was reserved for the factory in Orion Township. Here, the Chevrolet Bolt EV and Bolt EUV are produced. The allocated budget is stated to be exactly 4 billion dollars. The company will overhaul the factory, making it suitable for Chevrolet Silverado EV and GMC Sierra EV production. The company already had an electric pickup truck manufacturing facility in Hamtramck, Detroit. Following this announcement, it was confirmed that a second production plant came. It is stated that the production start date in the second factory will reach 2024.
Another part of the investment is reserved for the construction of a new plant in Lansing. The company attaches importance to the production of batteries for electric vehicles. That’s why the $2.6 billion investment will be designed to produce battery cells for ultium battery technology. With this facility, there will be 3 battery factories belonging to the company. The first two facilities are currently under construction in Ohio and Tennessee.
The remaining portion of the investment will be spent on the shortcomings of the currently operating Lansing Delta Township and Lansing Grand River assembly plants. These plants currently produce Chevy Camaro coupe, Cadillac CT4 and CT5 sedans. All these investments are expected to create a great deal of employment. Thus, 4,000 workers will be recruited in all facilities.