Electric vehicles, batteries could draw bulk of GM's US$7 billion pledge

DETROIT: A new family of electric vehicles, an all-electric pickup truck and an advanced battery system could draw much 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.

Much of that investment is likely earmarked for the production of electric vehicles at two Michigan plants and battery cells in Ohio, sources said. 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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