General Motors Co has pledged – an all-electric pickup truck and an advanced battery system will probably be a part of the $7 billion investment in the USA as parts of contract talks with the United Auto Employees.
The automaker and the union have been pursuing talks late on Monday to resolve a strike by 48,000 hourly employees that shut down GM’s highly profitable US operations.
GM stated Saturday it would make investments in eight facilities in four states, however, did not specify the timing, location, or products other than the electric pickup and a battery cell plant.
GM plans to invest each in superior propulsion systems for electric vehicles and in core merchandise such as utility vehicles and trucks that produce a lot of its revenue, the company stated on Monday.
GM also is anticipated to update plants in Michigan, Tennessee, and Missouri to construct redesigned variations of its midsize pickups and crossovers, based on a GM source. The corporate said it would invest in “extra new automobile and propulsion applications,” however stated nothing about opening new plants.
GM has mentioned it plans to introduce a stable of electric autos by 2023, however, has not provided details. Sources have stated these autos will feature an advanced battery system and a new vehicle structure that’s versatile and modular, to accommodate different automobile types and sizes.
GM has contributed an average $8.45 billion a year on capital investments over the past three years. Most utmost of that investment was made in North America, one other GM spokesperson mentioned.
The $7 billion investment pledged to the UAW works out to less than $2 billion a year over the four-year life of the proposed contract.