General Motors is preparing to invest over $3 billion for making electric vehicles in its home state of Michigan, according to a report by the Wall Street Journal on Friday.
The report cited people familiar with the matter.
The automaker prepares to transform its Orion Assembly plant in suburban Detroit into a hub for building electric pickup trucks and build a battery-cell factory near one of its assembly plants in Lansing.
GM’s Orion Assembly plant is going through renovation and is known for Chevrolet Bolt EV. The renovation would cost at least $2 billion and generate more than 1,500 jobs at the plant.
The automaker’s battery-cell project has been planned as a 50-50 joint venture with its battery partner, LG Energy Solutions, splitting over $2 billion between the two companies and possibly creating about 1,200 jobs, according to the report.
The automaker, currently developing business cases for potential investments in Michigan, is yet to confirm the report.