DETROIT: An all-electric pickup truck and an advanced battery system will be part of the US$7 billion that General Motors Co has pledged to invest in the United States as parts of contract talks with the United Auto Workers.
GM plans to invest both in advanced propulsion systems for electric vehicles and in core products such as trucks and utility vehicles that generate much of its profit, the company said on Monday. GM also is expected to update plants in Michigan, Tennessee and Missouri to build redesigned versions of its midsize pickups and crossovers, according to a GM source. The company said it will invest in “additional new vehicle and propulsion programs,” but said nothing about opening new plants."With as much excess capacity as GM still has, the company won't be opening any new plants for the foreseeable future," said AutoForecast Solutions Vice President Sam Fiorani.
Over the past three years, GM has spent an average US$8.45 billion a year on capital expenditures. Most of that investment was made in North America, another GM source said.
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