GM Investing $300 Million for New Electric Vehicle PlantJeffrey Heimgartner
posted on April 02, 2019 |
According to the International Energy Agency, it is estimated that electric vehicle ownership will be around 125 million by 2030. With sales continuously increasing, carmakers like General Motors (GM) are looking the future.
The company recently announced it is investing $300 million in its Orion Assembly Plant in Michigan for building a new electric vehicle. The plant is the home of the Chevrolet Bolt EV, Chevrolet Sonic and self-driving Cruise AV test vehicles. Additionally, the investment will create an additional 400 jobs.
“It makes sense because the Chevrolet Bolt EV is built at Orion and this is a great workforce,” GM CEO Mary Barra. “There is capacity here to be able to do that, and there are synergies as well.”
GM is investing $300 million in its Orion, Mich., plant for the production of a new electric vehicle. (Image courtesy of GM.)
Originally, the new EV was slated to be manufactured in China. The decision to change locations was influenced by a number of factors including a new trade deal awaiting approval by the U.S. Congress and rules of origin provisions.
“We are excited to bring these jobs and this investment to the U.S.," Barra said. “This new Chevrolet electric vehicle is another positive step toward our commitment to an all-electric future. GM will continue to invest in our U.S. operations where we see opportunities for growth.”
The new EV is in line with GM’s transformation in recent years to investing more into electrification and autonomous vehicle technology. The company plans on doubling its engineering resources allocated to EV and AV programs by 2020. In addition to the new EV, GM is focused on turning the Cadillac its lead EV brand. Although no official release has been set, it’s expected that the first model will incorporate a new battery electric vehicle architecture that will be versatile to be used for different body styles and in front-wheel, rear-wheel and all-wheel options.
GM has yet to reveal any details about the new EV, slated to begin production in 2023, but it will be based off an advanced version of the Bolt’s architecture.
Interested in other new electric vehicles on the horizon? Check out Uniti Announces First Fully Digitalized Electric Vehicle Production Factory in the U.K. and BMW Gears Up for Electric Vehicle Production.