GM Increasing Its Investments For EV Production

More plants will be converted for EV production.

Just earlier this month, General Motors announced a huge new investment into electric vehicles and EV production that should help the automaker reach its target of annual global EV sales of more than 1 million by 2025. Now, the American manufacturer is making another step towards accelerating its EV strategy with new investment and a few other measures.

As The Detroit Bureau reports, GM wants to convert more of its existing US and international production plants where gas and diesel vehicles are currently assembled into EV factories. The updated strategy now includes five assembly plants in North America – the existing site in Orion Township, Michigan, and new plants in Detroit, Spring Hill, Ontario, and Mexico. In addition, it will also run four battery assembly lines in Lordstown, Ohio.

“We will be converting our sites over from ICE products to EVs” going forward,” Gerald Johnson, GM’s Global Manufacturing Director, confirmed. “We will be converting our propulsion plants over to battery.”

Meanwhile, General Motors also wants to take into account how its more aggressive EV strategy will impact the company’s customers and workforce. As a part of the updated plan, CEO Mary Barra announced earlier this week a new $25 million “climate-equity-focused philanthropic fund” that will “complement” the $35 billion investment announced earlier this month. 

“Climate change does not impact every community equally,” Barra said during the Aspen Ideas Festival. “As we move to an all-electric, zero-emissions future, it is on us to lead positive change and implement inclusive solutions that bring everyone along, especially our employees and communities.”

During the Aspen Q&A session, The Detroit Bureau reports, Barra also made one very interesting and promising announcement. General Motors will invest more money into mainstream electric vehicles “that are affordable” and not premium products like the upcoming GMC Hummer EV and the Cadillac Lyriq.


The Detroit Bureau

Source: Read Full Article