General Motors will invest roughly $6.6 billion in its home state of Michigan to increase electric pickup-truck production and build a new EV battery cell plant.
The new spending is part of a plan to increase GM’s North American production capacity to build 1 million electric vehicles by 2025.
GM has projected it will overtake Tesla as the top U.S.-based seller of electric vehicles by mid-decade. The investments are part of the $35 billion the company has pledged to spend on EVs by 2025.
GM has a lot to catching up to do in just three years. Tesla, which does not release U.S. sales specifically, delivered 936,172 electric vehicles globally in 2021. GM’s Chevrolet brand sold less than 25,000 EVs last year — ranking third in U.S.
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