GM announces $5.411 billion investment in Ohio plant to produce electric vehicle drives

With the continuous development of electric vehicles, many traditional car manufacturers have begun to electrify and expand their market in the field of electric vehicles. In early September, General Motors unveiled its new electric SUV, the Chevrolet Equinox EV, which is based on the Alton platform and starts at $30,000. Today, General Motors announced a new investment in the electric vehicle industry.

According to GM's official website, GM will invest $760 million (about 5.411 billion yuan) in its Toledo, Ohio, plant to produce electric vehicle drives. Specifically, the drives will include front-wheel drive, rear-wheel drive, and all-wheel drive, and will be used in electric vehicles built on the Allton platform, including the Chevrolet Silverado EV, GMC Sierra EV, and GMC Hummer electric car.

Gerald Johnson, executive vice president of global manufacturing and sustainability at GM, said: "This investment provides job security for the team at the Toledo plant and is a step toward full electrification for GM."

On September 16, General Motors announced an investment of $491 million in its metal stamping plant in Marion, Indiana, to prepare for the production of electric vehicle parts.

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