By the year 2020, there has been an extended marketing push by GM to convince everyone that it is now about electricity. this Launched an EV platform that pioneered decades ago, It started EV powertrain family, this Tied up with honda For EVs. And this week, it said it would spend billions more on electric vehicles.
Tally, According to the release of GM:
- A $ 2 billion investment will be made in Spring Hill Manufacturing to manufacture fully electric vehicles, including the luxury Cadillac LYRIQ. Through this investment, Spring Hill’s paint and body shops will undergo major expansion and the general assembly will receive extensive upgrades, including new machines, conveyors, controls and tooling. Renovation work will begin immediately in Spring Hill.
- Production of the next generation GMC Acadia will go to the Lansing Delta Township Assembly, representing an investment of over $ 100 million.
- A $ 32 million investment will be made in the Flint assembly for future production of heavy-duty Chevrolet Silverado and GMC Sierra pickups that have gained significant market share in the United States and Canada.
- A $ 17 million investment will be made at the Romulus, Michigan propulsion plant to increase automation and the capacity of GM’s 10-speed truck transmission, which is used in full-size pickups and other flagship products, including the all-new Chevrolet Tahoe And Suburban, GMC. Yukon and Yukon XL, and Cadillac Escalade.
- $ 3.5 million will be invested in Orion Assembly. In addition, a $ 750,000 investment will be made on GM’s site in Brownstown Charter Township, Michigan. Both investments relate to the additional production of the Cruze AV test vehicle at the Orion assembly.
All this on top of the $ 2.2 billion that G.M. Said in january It will invest in its Detroit-Hamtrak assembly center, now called Factory Zero For some reason. That’s in excess of $ 300 million Said last year It will invest in its plant in Orion, Michigan for Eve.
However, there is one thing to consider before it gets hit by a total of $ 4.5 billion: GM’s operating profit $ 8.4 billion last year, And it was GM’s profit of $ 11.8 billion in 2018, noting that the strike would not have happened. While none of those numbers will match GM’s profits this year, probably due to an epidemic, analysts still The company hopes to be profitable.
For GM, in other words, $ 4.5 billion is not a pocket change, but it is not much.