The top player in Detroit has recently announced a record investment worth 6.6 billion dollars in Michigan to enhance the production of electric vehicles, of which 2.6 billions to build a factory for electric batteries, in joint venture with LG Energy Solution. The target would be increasing the yearly production capacity to one million vehicles within 2025.
«This significant investment -said Mary Barra, GM Chair and CEO – demonstrates our commitment to strengthen our Michigan and U.S. manufacturing presence and grow good-paying jobs. We will have the products, the battery cell capacity and the vehicle assembly capacity to be the EV leader by mid-decade».
Young-Soo Kwon, CEO of LG Energy Solution said: «With a shared vision, GM and LG Energy Solution pioneered the EV sector by seizing new opportunities in the market well before anyone else did. Our third battery manufacturing plant, fittingly located in America’s automotive heartland, will serve as a gateway to charge thousands and later millions of EVs in the future».
The mission of GM on the market is surpassing Tesla as the best-seller brand of electric cars in the United States by the half of the decade.
The current situation? Gm sold less than 25,000 electric vehicles last year, ranking third in the United States behind Tesla and Ford.