Biden hails GM’s $7B investment in EVs as sign of ‘manufacturing comeback’
President Biden on Tuesday called General Motors’ (GM) nearly $7 billion investment in Michigan a sign that the administration’s efforts to strengthen the economy are leading to a “manufacturing comeback.”
“Today’s announcement by GM — to make its largest investment ever, $7 billion to create 4,000 new jobs at EV manufacturing sites in Michigan — is the latest sign that my economic strategy is helping power an historic American manufacturing comeback,” the president said in a statement.
Michigan’s economic development board approved $824 million in incentives and assistance for GM to add plants in Michigan to manufacture electric vehicles (EVs) and batteries on Tuesday. Up to $7 million will be spent by GM on expanding a factory to make electric pickup trucks, which will cost $4 billion, and on building a U.S. battery cell plant, which will cost up to $2.5 billion.
Biden said the administration has been “laser focused” on manufacturing electric vehicles and making sure the U.S. is a global leader in the industry into the future. More than $100 billion has been invested in auto manufacturing to build electric vehicles and batteries over the past year, according to the president.
He pointed to an executive order he signed in August that “aimed at getting to 50% electric vehicle sales share in 2030, and set ambitious new standards.”
He also pointed to the bipartisan infrastructure bill, which he signed into law in November, that invests in electric vehicles and nationwide charging networks.
“The Bipartisan Infrastructure Law was a major step toward this future by investing in EV charging, and Congress can catalyze more with additional incentives for Made in America electric vehicles, batteries, and semiconductors built by union hands,” he said.
The factory that will be expanded to make electric pickup trucks is in Orion Township, while the cell plant in Lansing will be GM’s third electric vehicle battery factory. Overall, the car giant has a goal to sell only electric passenger vehicles by 2035.
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