General Motors will build a third EV battery factory in the US

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The single largest investment announcement in GM history was made by the company.

The company will spend the money on four manufacturing sites, with plans to create 4,000 new jobs and retain 1,000 in the state. The investment includes the construction of a new battery cell plant in Lansing and the conversion of the GM assembly plant in Orion for the production of the Chevy Silverado EV and the electric GMC Sierra. Factory Zero in Detroit will be GM's second assembly plant that will build full-size electric pickups.

GM will spend $35 billion on electric and self-drive vehicles by the year 2025, a huge sum for a company that used to be known for its big, gas-guzzling trucks and SUVs. It's also a sign of GM's continued confidence in the growth of the EV market, despite only 3 percent of sales in the US over the last year.

Light-duty diesel and gasoline vehicles will not be sold by the year 2035 if GM succeeds in becoming a carbon-neutral company. Having a ready supply of batteries is a fundamental concern for GM.

The company's electric lineup consists of three vehicles: the Chevy Bolt, the Chevy Bolt EUV, and the Hummer EV truck. Several upcoming EV's include the electric Hummer SUV, Chevy Silverado EV, Chevy Equinox EV, Chevy Blazer EV, GMC Sierra EV, and the Cruise Origin self-driving shuttle.

GM and its partner in South Korea are expanding their manufacturing footprint because they will need a lot of batteries. Two battery factories in the US will be built by GM and LG, one in Ohio and the other in Tennessee.

The conversion of the factories in Orion and Factory ZERO will allow GM to increase its electric truck production capacity to 600,000 trucks. The company is investing in its two vehicle assembly plants for near-term product enhancements.