GM’s Exciting $200M Investment in Silverado EV Parts Plant!
General Motors (GM) is all set to release its brand new 2024 Chevrolet Silverado EV later this year. With this in mind, the automaker is planning to build a $200 million electric vehicle parts plant. This plant will support the production of GM’s latest electric truck, which is expected to ramp up in the second half of the year.
GM's CEO Mary Barra is confident about the automaker's future, especially after selling over 20,000 EVs for the first time in a quarter in Q1. This shows that GM is ready for a big year. Despite ending Chevy Bolt EV and Chevy Bolt EUV production, which is the cheapest electric model in its lineup, and best selling EV with 19,700 units sold in Q1, GM is still optimistic. This is due to the new era for GM, based around its flexible Ulltium platform. This electric vehicle architecture is designed to power a wide range of models, including the Chevy Equinox EV, Blazer EV all set to launch this year.
Chevrolet has announced a $4 billion investment in their Orion Assembly plant, where the Chevy Bolt EV is made, to prepare for the upcoming Chevy Silverado EV. The investment aims to make significant changes, and GM plans to enhance and increase production beyond that.
GM plans to build a new plant for EV parts at the former Detroit Pistons arena site, covering 87.3 acres and consisting of 1.05 million square feet of EV parts and distribution space, along with 50,000 square feet of office space. The location of the plant near the Orion Assembly plant will aid in the production of the upcoming Silverado EV pickup. The new WT Silverado EV edition is set to be delivered later this quarter, with 340 secured fleet customers, while the RST passenger version will be available this summer.
2024 Chevrolet Silverado EV: What You Need to Know