General Motors plans to invest $6.5 billion at two Michigan sites for EV assembly and battery production, Automotive News (subscription required) reported Friday.
The investment includes a new battery plant in Lansing, Michigan, that would be part of the Ultium Cells LLC joint venture with battery supplier LG Energy Solution, according to the report. The two companies would reportedly split the estimated $2.5 billion cost of this project.
That could make Lansing the site of one of the two Ultium Cells battery plants GM announced in 2021. The automaker hasn\’t confirmed locations for those plants, which complement new battery plants in Ohio and Tennessee.
2023 Chevrolet Silverado EV
GM also plans to invest $4 billion in its Orion Assembly plant in Orion Township, Michigan, to build electric versions of the Chevrolet Silverado and GMC Sierra pickup trucks. The Chevy Silverado EV made its public debut at CES earlier this month, and is expected to arrive as a 2024 model.
GM currently produces the Chevrolet Bolt EV and EUV at the Orion Assembly plant—although production has been paused for much of the past few months, as GM prioritizes pack replacements for a recall over fire risk.
The automaker just reported that the Spring Hill, Tennessee, plant is starting pre-production of the Cadillac Lyriq electric SUV, while GMC Hummer EV production has started in Hamtramck, Michigan. The Hamtramck plant was rechristened Factory Zero, heralding what GM says its a transformation to an all-EV facility.
2022 Bolt EV assembly – battery marriage
GM also in December announced plans to build a battery material plant—a joint venture with South Korea\’s Posco Chemical—to feed the North American battery and EV supply chain.
Meanwhile, GM has been at the center of drama surrounding the EV tax credit. Because the credit has already expired for GM vehicles, it arguably has the most to gain from a revival of the credit—and the bonus for being union-made that was written in. The credit potentially could get another chance if the Biden administration is willing to break its Build Back Better legislation into several pieces.