GM to Invest Over $3 Billion to Make Electric Vehicles in Michigan
General Motors (GM) announced plans to create a joint venture for processing cathodes last week, and a new report shows the company is also working to revamp some other facilities for electric vehicle (EV) production in Michigan.
GM is set to dedicate over $3 billion USD to EV production projects throughout Michigan, as it converts a Detroit factory to an EV production facility and works with LG to build a previously alluded-to battery-cell factory, according to sources familiar with the subject, reports The Wall Street Journal.
In a statement, GM said, “GM is in the initial stages of developing a business case for a potential future investment at several locations, including the Orion Township area.” GM continued, “We are having discussions with the appropriate local officials on potential incentive opportunities.”
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In addition, GM has started a 50-50 joint venture with LG to develop the Lansing, Michigan cathode production project, which is expected to split the cost of $2 billion USD between the companies and create up to 1,200 jobs.
The conversion of GM’s Detroit Orion plant will act as the company’s production base for electric pickup production, with renovations estimated at a price over $2 billion USD.
Earlier this year, GM also announced a plan to double its annual revenues by 2030 in a move to EVs, along with debuting its GM Ultra Cruise advanced driving-assistance system (ADAS) set to hit the road in 2023.