GM's Billion-Dollar Investment To Boost EV Production! Will It Be Enough To Dethrone Tesla?

GM Company, one of the rising EV manufacturers, announced that it would soon invest $7 billion in Michigan.

This billion-dollar investment will help the giant automaker to boost its EV production, especially when it comes to its full-size electric pickup trucks.

As of the moment, General Motors is still behind Tesla when it comes to electric car development. This is because GM is a traditional carmaker that is transitioning to EV making.

Since zero-emission vehicles are currently being recommended by U.S. government officials, GM decided to join other automakers that are also transitioning to electric car production.

Now, it seems like GM wants to dethrone Tesla. But, will the billion-dollar investment be enough?

GM's Billion-Dollar Investment

According to Reuters' latest report, GM's billion-dollar investment in Michigan is intensifying the competition in the EV industry.

However, the automaker still has a long way to go before it can replace Tesla as the leading EV maker globally. Aside from Elon Musk's company, General Motors also need to face Ford Motor, another traditional automaker transition to electric car production.

But, the $7 billion investment of GM will certainly expand its business. Channel News Asia reported that GM will produce more than 600,000 electric pickups in its Detroit-Hamtramck and Orion Township factories.

Meanwhile, its three plants in Tennesse, Mexico, and Ontario are expected to increase the 600,000 EVs to more than 1 million units by 2025.

Activities of GM's Competitors

GM's plans can further help it enhance its EV business. However, its competitors are also conducting their own efforts.

For example, Ford Motors confirmed that it will build 600,000 EVs, as well as 150,000 F-150 Lightning units in the next 24 months or around 2023.

This production capacity upgrade is expected to make Ford the number 2 electric car maker in North America. Meanwhile, Tesla is also doing its part.

Recently, Tech Times reported that Tesla Xinjian expansion is now taking place. On the other hand, Tesla Gigafactory Texas is expected to deliver new Model Y electric vehicle models in 2022's Q1.

For more news updates about General Motors and its upcoming activities, always keep your tabs open here at TechTimes.

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Written by: Griffin Davis