LANSING, Mich. (AP) – General Motors is making the largest investment in company history in its home state of Michigan, announcing plans to spend nearly $7 billion to convert a factory to make electric pickup trucks and to build a new battery cell plant.
The moves, announced Tuesday in the state capital of Lansing, will create up to 4,000 jobs and keep another 1,000 already employed at an underutilized assembly plant north of Detroit.
The automaker plans to spend up to $4 billion converting and expanding its Orion Township assembly factory to make electric pickups and $1.5 billion to $2.5 billion building a third U.S. battery cell plant with a joint-venture partner in Lansing.
GM CEO Mary Barra said the investment would make Michigan “the epicenter of the electric vehicle industry.”
The state’s economic development board on Tuesday approved $824 million in incentives and assistance for Detroit-based GM. The package was unveiled and authorized by the Michigan Strategic Fund Board. It includes a $600 million grant to GM and Ultium Cells, the venture between the carmaker and LG Energy Solution, and a $158 million tax break for Ultium. The board also approved $66.1 million to help a local electric utility and township upgrade infrastructure at the battery factory site.