GM to invest US$2.2 billion at Detroit factory to make electric trucks, SUVs

REUTERS: General Motors Co will invest US$2.2 billion in its Detroit-Hamtramck assembly plant to build electric trucks and sport utility vehicles, a move that would create 2,200 jobs, the No.1 U.S. automaker said on Monday.

The company said its first electric truck will be a pickup, whose production will begin late next year and will be followed by a self-driving vehicle, Cruise Origin.GM last week https://reut.rs/30V6MfE unveiled a prototype of a driverless vehicle for ride-sharing service. Reuters had reported last year that GM plans to build a new family of premium electric vehicles at the plant beginning late 2021, possibly reviving its Hummer brand. The company had said it would invest US$7.7 billion in its U.S. plants over the next four years.

The Detroit-Hamtramck plant currently operates one production shift and builds the Cadillac CT6 and the Chevrolet Impala sedans. The plant will be idled for several months at the end of February as GM starts renovations for the production of electric trucks and SUVs.Ford is also expected to begin building premium electric pickups in late 2021 at a Detroit-area assembly plant. Ford and GM expect annual electric truck production to hit around 40,000 units by 2024, analysts have said.

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

GM to spend US$2.2 billion to make electric trucks and SUVs at Detroit factoryGeneral Motors Co will invest US$2.2 billion in its Detroit-Hamtramck assembly plant to build a variety of electric trucks and SUVs, the No.1 U.S.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Electric vehicle maker Rivian: expect prices lower than previously announcedElectric vehicle startup Rivian on Saturday displayed its pickup truck and SUV at an event in San Francisco's Bay Area and said that when their ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Tesla's Musk seeks to allay water concerns at factory site after protestsTesla Chief Executive Elon Musk sought to allay environmental concerns about the electric carmaker's planned factory in Germany, saying the plant ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

AbbVie-Allergan US$63 billion deal aided by Nestle, AstraZeneca buysU.S. drugmaker AbbVie's US$63 billion tie-up with Allergan is getting help from Nestle and AstraZeneca buying up products the Irish-domiciled ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

EU antitrust regulators to rule on US$69 billion Aramco-SABIC deal by February 27EU antitrust regulators will decide by Feb. 27 whether to clear state energy firm Saudi Aramco's US$69.1 billion acquisition of world number four ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Casper IPO valuation dwindles from peak of US$1 billionCasper Sleep Inc, the online mattress retailer whose investors include actor Leonardo DiCaprio and rapper 50 Cent, expects its initial public ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »