General Motors is considering investments in two electric vehicle-related facilities in Michigan, one with partner LG Energy Solution, that could top US$4 billion, a source familiar with the plan told Reuters.
If approved, GM's share of the total investment in the two Michigan EV projects would be US$3 billion. GM is looking at a new US$2 billion battery plant near Lansing, as well as a US$2 billion overhaul of its Orion Township assembly plant north of Detroit, the source said, adding that the cost of the Lansing battery plant would be shared with LGES.
The Orion plant, which now builds the Chevrolet Bolt, would be converted to build products using GM's Ultium EV platform, the source said.GM Chief Executive Mary Barra told reporters on Thursday that a decision on new plants in Michigan and elsewhere could be"weeks away." GM said in a statement on Friday that it was"developing business cases for potential future investments in Michigan," but that"these projects are not approved and securing all available incentives will be critical for any business case to continue moving forward."
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »