General Motors helped hook Americans on flatulency - guzzling truck and SUVs that have been a tragedy for the mood . Now , it ’s getting serious about a pivot to electrical vehicle amid increased electrification efforts from other top automakers . On Tuesday the automakerannouncedit will invest roughly $ 7 billion to build out a new EV shelling production program in Michigan . It will also change another already in use manufacturing plant into a major manufacturer of electric trucks .
On the barrage side , GM said it ’s partnering with EV barrage manufacturing business LG Chemical and spending $ 2.6 billion to uprise a new battery cell manufacture plant life that the company expect could go online by 2024 . The larger lump of the investing ( around $ 4 billion ) is break down towards converting a current manufacturing plant to serve at the main evolution site for the company’sChevy Silverado EVand electric GMC Sierra . Yes , they ’re still going to make monstrous vehicles . But hey , if that ’s what it takesto pop the inner combustion engine …
In a statement , GM Chair and CEO Mary Barra say the company ’s investing decision was made found on “ positivist consumer answer and reservations for our late EV launch . ”
Photo: Bill Pugliano (Getty Images)
GM also had a little service along the way . grant to theNew York Times , the state of Michigan is leave GM with $ 824 million in economic incentives . In return , the company claims the new investment could create 4,000 new job .
The fellowship connect a grow list of U.S. automakers supposedly pivoting to EVs . Ford , GM ’s biggest rival , has reportedly seen an flush of excitement for its new , jolly price F-150 Lightning . It alsoannouncedit would drop $ 11 billion to build three new battery factories . Stellantis — the parent company of U.S. icons Chrysler , Dodge , Jeep , and Ram — meanwhile has said itplansto serve out at least $ 35.5 billion to get EVs and related to applied science through 2025 .
The flurry of announcements come after the Biden administration set anambitious goalof ensuring electric vehicles describe for one-half of all new U.S. auto gross revenue by 2030 . New dedication from automakers are a good startle towards that finish , but anyone who ’s drop more than a few mo on a major U.S. interstate lately will lie with there ’s still a long style to go .
The U.S. is also lagging far behind other parts of the world in EV acceptation , fit in toresearch firm Canalys . In the first one-half of 2021 , EV play just 3 % of new elevator car sale in the U.S. That ’s an improvement from previous years for sure , but still far less than 12 % and 15 % of new car sales EV represent in China and Europe respectively during that same time .
CompaniesElectric vehicleEnginesFordGENERAL MOTORSJeep
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