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State of Michigan confirms planned GM investment of $6.5 billion

According to reporting by Forbes, General Motors (GM) is investing a further $6.5 billion in the State of Michigan.

State documents published Friday show that GM and Ultium Cells are planning an investment in electric vehicle and battery plants in Michigan. Ultium Cells is a joint venture run by GM and LG Energy Solutions.

GM plans to spend $6.5 billion on two plants as per the documents. GM and LG Energy Solutions plan to spend $2.5 billion on a battery factory in Lansing.

Further to that. GM plans to spend an additional $4 billion to expand their plant in Orion Township. The Orion assembly plant will manufacture the new electric Chevrolet Silverado and the GMC Sierra pickup truck.

These planned investments come as GM and Ultium meet with the Michigan Strategic Fund.

The fund will meet next week to discuss incentives for GM and Ultium's projects.

The fund can offer grants and other financial perks for companies operating in Michigan.

In addition, GM already secured local tax breaks from the Lansing and Orion governments.

However, the tax breaks are contingent on the planned investments moving forward.

GM nor Ultium provided a comment on the upcoming meeting or their potential investment in the State of Michigan.

The post State of Michigan confirms planned GM investment of $6.5 billion appeared first on Drive Tesla.

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