Home ECONOMY GM to Spend $3 Billion in All-Electric Trucks

GM to Spend $3 Billion in All-Electric Trucks

by biasharadigest

General Motors (GM) has announced plans to spend $3 billion in producing different types of all-electric trucks, as well as autonomous vehicles.

Of the $3 billion, the company will spend $2.2 billion on its Detroit-Hamtramck plant, which i fully dedicated to the production of all-electric vehicles. They will then use the remaining $800 million in supplier tooling and “other projects related” to the vehicles at several facilities.

According to the car maker, their first product of this project will be an all-electric pickup truck, which will hopefully go into production in 2021. Thereafter, it will be followed by the Cruise Origin, which is designed for a ride-sharing service, with no steering wheel or pedals.

Furthermore, the company alleges that once fully operational, the Detroit-Hamtramck plant will create more than 2,200 jobs.

This announcement comes just after, recently, GM partnered with LG Chem in a $2.3 billion deal for mass production of battery cells of its electric vehicles.

As Crunchbase reports, the automaker plans to release 20 electric nameplates by 2023.

See Also:

Toyota Invests $394 Million in Flying Taxis

Hyundai to Invest $51 Billion in Electric & Autonomous Cars by 2025

Flying Car Infrastructure Comes To Kenya

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