Recently, GM announced in the United States that it will invest a total of $7 billion in four production sites in Michigan to accelerate the development of the electric vehicle business.
According to the information, $7 billion is the largest single investment project in GM's history. The investment will create 4,000 new jobs and increase the production capacity of batteries and electric pickups. It is expected that after the completion of the project, the annual production capacity of GM Chevrolet and GMC pure electric pickup models will be increased to 600,000 units.
In addition, the investment also increases the supply of batteries for GM's partnership with LG. It is expected that by the end of 2025, GM's electric vehicle production capacity in North America will exceed 1 million units, and by 2030, 50% of GM's north American production capacity will be converted to electric vehicles.