General Motors Announces $7 Billion Investment into Facilities

General Motors has announced a $7 billion investment in it’s Michigan manufacturing facilities. According to GM, it’s the largest investment announcement in company history and will create 4,000 new jobs as well as retain 1,000 jobs. Key elements of the investment include a new battery cell plant in Lansing and the conversion of GM’s existing Orion Township facility to expand production. The company says it will have the ability to produce one million electric vehicles in 2025 with the new upgrades and new facilities under construction in Tennessee, Ontario and Mexico. Of the announcement, President Biden said GM’s news was the latest sign his “economic strategy is helping power a historic American manufacturing comeback.”