General Motors Company (NYSE: GM) to Inject $3 Billion into Michigan EV Projects

December 22, 2021 13:13:20

Electrification is picking up more steam as countries pass increasingly strict tailpipe emission standards and more players join the nascent electric vehicle (“EV”) industry. Furthermore, the electric vehicle game isn’t limited to just EV startups; most established automakers are also working on electrifying their vehicle lineups and surpassing Tesla, which is currently the world’s largest electric vehicle maker. General Motors Company (NYSE: GM) plans to achieve this goal in large by leveraging existing manufacturing facilities and retrofitting them to build electric vehicles. And like fellow automakers, GM will invest a significant amount of money in electrification in the next decade.

According to sources close to the Detroit-based carmaker, GM intends to invest more than $3 billion to manufacture electric vehicles in its home…


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