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Sunday, April 18, 2021

General Motors Will Invest $2 Billion In Electric Vehicles in Tennessee

General Motors announced on Tuesday afternoon it will invest $2 billion to convert its Tennessee factory Spring Hill to create electric vehicles, starting with the new Cadillac Lyriq, alongside existing combustion-engine Cadillacs.

General Motors announced on Tuesday afternoon it will invest $2 billion to convert its Tennessee factory Spring Hill to create electric vehicles, starting with the new Cadillac Lyriq, alongside existing combustion-engine Cadillacs.

In a statement, General Motors said that Spring Hill will be the company’s third American electric vehicle factory, along with existing plants in Orion Township and Detroit, Michigan. The Tennessee plant was built in 1990 as the exclusive source for the company’s now-defunct Saturn brand.

General Motors also said that among additional investments, it will spend $32 million at a plant in Flint, Michigan, that builds the and GMC Sierra heavy-duty pickups and the Chevrolet Silverado. 

GM also said it will spend $100 million to shift production of the redesigned GMC Acadia crossover from Spring Hill to a plant near Lansing, Michigan. General Motors shares were up 5.3 percent to $35.10 in midday trade.

According to AutoForecast Solutions, which tracks industry production plans, the Cadillac Lyriq crossover is slated to go into production in Spring Hill in late 2022.

 

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