NEW YORK, Jan 26 ― General Motors announced Tuesday plans to invest US$7 billion in the US state of Michigan as it converts assembly plants and builds batteries for the transition to electric vehicles .
GM has previously projected that it will double revenues by 2030 as it ramps up EV production. The company expects 50 per cent of its North American capacity to be EVs by that date. “These investments also create opportunities in Michigan for us to bring our employees along on our transition to an all-electric future.”
GM is also spending US$2.6 billion to build a new battery plant in the city of Lansing, with the rest going to enhance to assembly plants in the area.
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