GM Is Investing $3 Billion In Electric Trucks, Autonomous Vehicles

February 20, 2020

General Motors plans to invest up to $3 billion in its Michigan plant to make electric trucks and autonomous vehicles. According to Tech Crunch, GM will invest $2.2 billion into its Detroit-Hamtramck assembly plant and an additional $800 million into supplier tooling and other projects that will be related to the launch of their newly planned electric trucks.

The first all-electric truck manufactured by the plant will debut in late 2021 followed by the Cruise Origin, an electric and self-driving vehicle.

“Through this investment, GM is taking a big step forward in making our vision of an all-electric future a reality,” said Mark Reuss, the president of General Motors. “Our electric pickup will be the first of multiple electric truck variants we will build at Detroit-Hamtramck over the next few years.”

Reuss says the support from the state of Michigan is key in making their investment in electric and autonomous vehicles possible. “This investment helps ensure that Michigan will remain at the epicenter of the global automotive industry as we continue our journey to an electrified future,” he said.

While many automotive companies have been steadily making their way into the electric vehicle market, GM is among the few to take aim at trucks. Thus far, it’s a good investment as pickup trucks currently make up 16.4% of total auto sales in the United States.

Currently, about 40% of steel production across the globe is made with recycled metal.GM says they plan to create over 2,200 manufacturing jobs once their Detroit-Hamtramck assembly plant is fully operational. The plant currently employs 900 Michiganders who are responsible for building the Chevrolet Impala and the Cadillac CT6, which is the only vehicle with a vinyl roof. Vinyl is the world’s third-most widely produced synthetic plastic polymer. Renovations are expected to begin on the assembly plant at the end of February.

But the automaker’s investment plans don’t stop there. According to The Hill, GM plans to invest $7.7 billion across U.S. assembly plants within the next four years.

GM also recently formed a joint business venture with LG Chem. The goal of the partnership is to mass-produce battery cells for GM’s new electric vehicles.

The companies said in December 2019 that they plan to invest up to $2.3 billion in another joint business venture later in 2020 that will establish a battery cell assembly plant on a greenfield manufacturing site in Northeast Ohio in the Lordstown area. The new Ohio assembly plant is expected to create over 1,100 new jobs. Groundbreaking for the Ohio assembly plant will take place mid-2020.

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