SMM: on Oct. 20, General Motors announced that it would invest about $2.2 billion in its U. S. production operations, mainly to increase the production of electric vehicles. The investment is the latest in GM's vision of zero accidents, zero emissions and zero congestion for CEO Marie Bora (Mary Barra), which is in the midst of a transition to electric vehicles.
According to the company, the $2.2 billion investment will be completed in the next few years. About $2 billion of that will go to its (Spring Hill) plant in Springhill, Tennessee, to produce future electric models, including the recently launched Cadillac Lyriq crossover. GM said it would soon renovate the plant, which would become GM's third electric vehicle manufacturing plant in the United States.
GM said the GMC Acadia, which had previously been built at a plant in Tennessee, would be transferred to a plant in central Michigan. The company said it would invest more than $100m in its Lansing Delta Township plant to assemble the next-generation Acadia crossover, but did not say when.
In addition to investing in electric vehicles, GM announced on Oct. 20 that it would invest about $53.3 million in four plants in Michigan to boost production of heavy pick-up trucks, self-driving Cruise AV test cars and 10-speed gearboxes.
GM said it briefed the White House and state delegations before announcing the investment. GM spokesman Jeannine Ginivan said the timing of the investment announcement had nothing to do with the ongoing US presidential election.
GM has pledged to invest more than $4.5 billion in three US manufacturing sites to prepare for the production of electric cars since March 2019. Earlier, the company said it planned to launch at least 20 new electric vehicles worldwide by 2023, including the upcoming GMC electric version of the Hummer.
"We are committed to investing in employees and communities in the United States," Bora said in a statement. These investments reflect GM's success today and our vision for the future of pure electric. "
