General Motors is increasing its investment in their Lake Orion Assembly plant from $160 million to $1.3 billion!
The plant currently makes the Bolt but with this investment it will likely be making more EVs and/or EV parts.
gmauthority.com
General Motors has increased its proposed investment in the Lake Orion Assembly plant in Michigan from $160 million to a sizable $1.3 billion.
The Detroit News previously reported in December that GM had filed an abatement with Orion Township for a $160 million investment at the Lake Orion Assembly plant, which currently builds the Chevy Bolt EV and Chevy Bolt EUV. Now the automaker is seeking an abatement on a larger investment of $1.3 billion for the facility, the newspaper reported Friday. The automaker is seeking an abatement for 12 years, plus three years during the construction phase.
In a statement sent to The Detroit News, GM spokesman Dan Flores confirmed the automaker was evaluating Lake Orion Assembly for a large future investment.
“GM is developing a business case for a potential future investment at Orion Township,” Flores said. “As part of developing a competitive business case, we have had discussions with the appropriate local officials on potential incentive opportunities. We have recently resubmitted our tax abatement application with Orion Township. We are not going to speculate or disclose the details of the projects under consideration beyond the information included in our public filings.”
The tax abatement application indicated the investment would create or retain up to 2,000 jobs at the Orion Township facility. While it did not say what the investment could be for, GM is currently finalizing locations for its new U.S. electric vehicle and battery module plants.
GM recently received a tax break from the nearby city of Lansing in Michigan to construct a new battery plant on a 529-acre plot of land within the municipality. The project would cost “up to or more than,” $2.5 billion and would create roughly 750 full-time jobs when completed at the end of 2025, public records indicate. The proposed Lansing battery plant would be close by the GM Lansing Delta Township Assembly plant, which currently builds the Chevy Camaro, along with the Cadillac CT4 and Cadillac CT5.
GM President Mark Reuss said previously that building at least one or more of its new battery plants in Michigan would be ideal, as this would save the company costs in shipping the modules from the battery plant to its various Michigan-based vehicle manufacturing plants.
The plant currently makes the Bolt but with this investment it will likely be making more EVs and/or EV parts.
General Motors Revises Investment At Orion Plant To $1.3 billion
Up from just $160 million.
gmauthority.com
General Motors has increased its proposed investment in the Lake Orion Assembly plant in Michigan from $160 million to a sizable $1.3 billion.
The Detroit News previously reported in December that GM had filed an abatement with Orion Township for a $160 million investment at the Lake Orion Assembly plant, which currently builds the Chevy Bolt EV and Chevy Bolt EUV. Now the automaker is seeking an abatement on a larger investment of $1.3 billion for the facility, the newspaper reported Friday. The automaker is seeking an abatement for 12 years, plus three years during the construction phase.
In a statement sent to The Detroit News, GM spokesman Dan Flores confirmed the automaker was evaluating Lake Orion Assembly for a large future investment.
“GM is developing a business case for a potential future investment at Orion Township,” Flores said. “As part of developing a competitive business case, we have had discussions with the appropriate local officials on potential incentive opportunities. We have recently resubmitted our tax abatement application with Orion Township. We are not going to speculate or disclose the details of the projects under consideration beyond the information included in our public filings.”
The tax abatement application indicated the investment would create or retain up to 2,000 jobs at the Orion Township facility. While it did not say what the investment could be for, GM is currently finalizing locations for its new U.S. electric vehicle and battery module plants.
GM recently received a tax break from the nearby city of Lansing in Michigan to construct a new battery plant on a 529-acre plot of land within the municipality. The project would cost “up to or more than,” $2.5 billion and would create roughly 750 full-time jobs when completed at the end of 2025, public records indicate. The proposed Lansing battery plant would be close by the GM Lansing Delta Township Assembly plant, which currently builds the Chevy Camaro, along with the Cadillac CT4 and Cadillac CT5.
GM President Mark Reuss said previously that building at least one or more of its new battery plants in Michigan would be ideal, as this would save the company costs in shipping the modules from the battery plant to its various Michigan-based vehicle manufacturing plants.
