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The money will go toward two plants

General Motors Co. (GM) is investing $449 million USD in two of its Michigan-based plants to up its electrification game. 
According to GM, it will invest $384 million USD into the Detroit-Hamtramck plant that builds autos like the Chevrolet VoltCadillac ELR and Opel Ampera. The money will go toward new body shop tooling, upgrades and equipment to build the next-generation Volt and two other upcoming vehicles (which are currently unknown to the public). 
As for the other $65 million USD, it will be put toward the Brownstown plant, which makes lithium-ion battery packs for many of GM's EVs. Production of the company's next-generation of lithium-ion batteries and future battery systems will benefit from this investment.

[SOURCE: Green Car Reports]

“General Motors is committed to building award-winning products and developing technologies in America, which helps to grow our economy from a resurgent auto industry,” said Gerald Johnson, GM North America Manufacturing vice president. “These investments will help the next-generation Chevrolet Volt build on its position as the leader in electrified propulsion.”

There doesn't seem to be a set timeline for when the investments will begin, but it will likely further GM's position in the EV and future auto technologies realm while also potentially putting the state of Michigan in a better economic spot. 

Source: General Motors

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what a deal
By DocScience on 4/9/2014 6:09:55 PM , Rating: 2
GM is leasing Volts for $222/month (3yr), $3900 at signing.
Compare this to the same priced Impala $307/mo, $4300 at signing.

They apparently can't give Volts away.

RE: what a deal
By flyingpants1 on 4/9/2014 9:15:38 PM , Rating: 2
That's a real shame. That's like $330/mo and you don't pay for gas.

The car itself is a marketing problem. The interior is tiny and it looks like crap.

If it looked like a Model S and accelerated a bit faster (the torque motor is capable of 0-60 in <6s, IRL it does about 9s) it would sell like crazy.

Hopefully the Volt 2 doesn't suck.

RE: what a deal
By Kazinji on 4/10/2014 5:20:01 AM , Rating: 2
Model S is almost double the price, and to get it to accelerate faster than the Model S, would put it as a sports car not a eco friendly car. Model S's have been taken to the drag strip.

RE: what a deal
By Mint on 4/10/2014 11:09:33 AM , Rating: 2
An Impala is not a Volt substitute. It's a full-size car. You should be comparing it to a well equipped Cruze. The latter will probably be cheaper per month, but anyone willing to do a tiny bit of math should be taking into account the gas savings.

The Volt has an image problem. Part is GM's fault for overpricing it early on and having that reputation stick, and part is the inane anti-GM media bandwagon that decided to focus on this car.

They also should have made it faster. The fact that performance doesn't change when using the engine-generator is proof that they held back. An electric motor's biggest strength is high performance with minimal material cost.

You have to be nuts to design an EV without taking advantage of that. Same with the use of permanent magnet motors when induction motors just need a little more software to be as good or better.

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