GM targets $3 billion investment in EV plants in Michigan – source

FILE PHOTO: GM's logo atop the company's headquarters
FILE PHOTO: The new GM logo is seen on the facade of General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. Photo taken March 16, 2021. REUTERS / Rebecca Cook / File Photo

December 10, 2021

(Reuters) – General Motors is considering investing in two electric vehicle-related facilities in Michigan, one with partner LG Energy Solution, which could amount to $4 billion, according to a person familiar with the matter.

If approved, GM’s share of the total investment in two electric vehicle projects in Michigan would be $3 billion.

GM is considering a new $2 billion battery plant near Lansing, as well as a $2 billion overhaul of the Orion Township assembly plant north of Detroit, the source said.

The cost of the Lansing battery plant will be shared with LGES.

The source said that the Orion plant, which is currently building the Chevrolet Bolt, will be converted to make products using GM’s Ultium EV platform.

(Reporting by David Shepardson in Washington) GM targets $3 billion investment in EV plants in Michigan – source

Bobby Allyn

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