General Motors to open two battery plants in U.S.

by Jul 16, 2021

General Motors will open two battery plants in the U.S. to support increasing electric and autonomous vehicle production. The announcements came as GM’s rival Ford said its entire Lincoln luxury brand lineup would be electric or gas-electric hybrid by 2030, including four fully electric vehicles. GM had not shared details about where it will build the new plants, but Chief Financial Officer Paul Jacobson said they would be similar in size to two factories now under construction in Lordstown, Ohio, and Spring Hill, Tennessee. Those factories each will employ more than 1,000 workers and cost about $2.3 billion. Shares of GM rose nearly 2% in premarket trading after the battery plant and spending announcements were made. They were trading at $61.95, near a record high. Link to the news: