Administration

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.

Tags Electric vehicles General Motors Joe Biden

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File - A Chevrolet Bolt is displayed at the Philadelphia Auto Show, Jan. 27, 2023, in Philadelphia. Electric vehicles are far less reliable than gasoline-powered cars, trucks and SUVs, mainly because most automakers are still learning how to build a completely new power system, according to this year's auto reliability survey by Consumer Reports.(AP Photo/Matt Rourke, File)
File - A Chevrolet Bolt is displayed at the Philadelphia Auto Show, Jan. 27, 2023, in Philadelphia. Electric vehicles are far less reliable than gasoline-powered cars, trucks and SUVs, mainly because most automakers are still learning how to build a completely new power system, according to this year's auto reliability survey by Consumer Reports.(AP Photo/Matt Rourke, File)

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In this photo released by the Governor of Sevastopol, Mikhail Razvozhayev telegram channel, a rescuer gestures as he helps people during an evacuation after storm and flooding in Sevastopol, Crimea, Monday, Nov. 27, 2023. A storm in the Black Sea took down power grids and left almost half a million people without power after it flooded roads, ripped up trees and damaged buildings in Crimea, Russian state news agency Tass said. (Governor of Sevastopol Mikhail Razvozhayev's telegram channel via AP)
In this photo released by the Governor of Sevastopol, Mikhail Razvozhayev telegram channel, a rescuer gestures as he helps people during an evacuation after storm and flooding in Sevastopol, Crimea, Monday, Nov. 27, 2023. A storm in the Black Sea took down power grids and left almost half a million people without power after it flooded roads, ripped up trees and damaged buildings in Crimea, Russian state news agency Tass said. (Governor of Sevastopol Mikhail Razvozhayev's telegram channel via AP)

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