GM Invests $449 Million USD in Future Electric Vehicles, Batteries
April 9, 2014 2:27 PM
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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.
, it will invest $384 million USD into the Detroit-Hamtramck plant that builds autos like the
. 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.
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Such pessimism, not so for me
4/11/2014 10:47:04 AM
I think the Volt gen 1 was a success. Maybe they sold less than expected (though I see a bunch around me), but they are selling despite their fairly high price. They also proved the car can be very acceptable to the regular joe as it doesn't have huge difference in how it drives. The early adopters are helping us all out. I have pretty high expectations of the Volt gen2, with much better batteries and lower overall cost expected, and I've been looking forward to the gen2 ever since the gen1 was announced. There is a big difference between the first gen of a pretty new tech and end-product with a 3rd party manufacturer for batteries, a relatively small production run, etc. and a second gen. I think GM has a pretty strong hand now in this market.
I think it's a very big deal for the country as well, with our vastly improved energy independence lately, and cleaner power sources advancing steadily. A solid shift to EVs and higher MPG cars will be an important step for the US. We all know the story of peaks and valleys in electric grid power consumption and resulting price fluctuations. With consumers gaining more power and knowledge in this bit as well, the whole system can gain efficiency as people start trying to use more of their energy during off-peak hours. It is actually a national advantage for people to adopt Volts and EVs.
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