General Motors Announces $7 Billion Investment for Electric Vehicle Manufacturing in Michigan

 

Automobile maker General Motors on Tuesday announced a new $7 billion investment in Michigan to expand manufacturing capacity for electric vehicles and batteries.

According to projections released by the company, the investment will create 4,000 new jobs, while retaining an additional 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.”

The investment is the single largest in General Motors history and will be focused in Lansing and Orion Township. In total, the funds will be placed into four projects.

State leaders also approved $824.1 million in state economic incentives for the company’s investment.

Leaders across the state praised the decision from the manufacturing company and the potential benefits for Michigan:

“GM’s multi-billion-dollar commitment is enormous news — not only for Eaton and Oakland counties — but for everyone in our state. It shouts to the world that Michigan is the place to be,” said State Sen. Dale Zorn (R-Ida). “This historic investment in Michigan manufacturing and jobs is exactly the type of long-term opportunities we were aiming for when we passed the Make it in Michigan package last year.”

Across the country, electric vehicle manufacturing has produced billions in additional investments. In Tennessee, Ford Motor Company announced a $5.6 billion endeavor to establish an electric vehicle and battery manufacturing facility. Georgia gained a $5 billion investment from Rivian.

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Cooper Moran is a reporter for The Star News Network. Follow Cooper on Twitter. Email tips to [email protected]
Photo “Mary Barra” by John F. Martin for General Motors. 

 

 

 

 

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