GM is increasing its inclination toward electric vehicles.
Since March of last year, General Motors has been publicizing a gradual turn toward electric vehicle production in an effort to be more environmentally conscious. At the time, it was announced that over $4.5 billion would be invested in the company’s various manufacturing sites in order to facilitate a smooth transition. Today, the first half of that money is officially on the books.
GM CEO Mary Barra announced today that their first major investment toward EV production is underway, with the first price tag being $2.2 billion to be gradually allocated over the next several years. The majority of this money will be directed toward GM’s manufacturing plant in Spring Hill, Tennessee for general renovation work and redesigning the assembly equipment to create electric vehicles instead of gas-powered ones. GM is hoping to have a range of at least 20 new electric vehicles by 2023, including the recently announced Cadillac Lyriq crossover and the upcoming GMC Hummer EV.
“We are committed to investing in the U.S., our employees and our communities,” Barra said in a statement. “These investments underscore the success of our vehicles today, and our vision of an all-electric future.”
In previous announcements, GM has stressed a new corporate message: “triple zero.” This reflects Barra’s desire for zero crashed cars, zero overall emissions from the company, and zero congestion. Until that plan is viable, however, GM will still be producing its usual vehicles. The GMC Acadia, which is typically constructed at the Spring Hill plant, will be moved to a facility in Michigan. GM will also be making new investments totaling approximately $53 million toward increasing their production of 10-speed transmissions, heavy duty pickup trucks, and the self-driving Cruise AV.