With the development of electric vehicles, many traditional car companies have begun to actively invest in and launch their own electric vehicles. In early September, GM unveiled its new electric SUV, the Chevrolet Equinox EV, which is based on the Ultium platform and starts at $30,000. Today, General Motors announced a new investment in the electric vehicle industry.
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According to GM’s official website, GM will invest $491 million in its metal stamping plant in Marion, Indiana, in preparation for the plant’s future production of stamped parts for steel and aluminum, the auto parts will be used in the production of vehicles, including electric vehicles produced at several GM assembly plants.
GM said the investment will be used to purchase and install two new press lines, complete press and die upgrades and refurbishments, and build a roughly 6,000-square-foot facility. Gerald Johnson, executive vice president of global manufacturing and sustainability at GM, said this investment is both an investment in preparing GM’s electrified future and an investment in the Marion plant team.
Moreover, in order to reduce vehicle costs and increase production scale, Cruise, the autonomous driving division of General Motors, has begun to independently develop chips for autonomous vehicles, which are expected to be deployed in 2025.
