GM is investing $ 1 billion in Mexico to produce electric vehicles
DETROIT – General Motors plans to invest more than $ 1 billion in Mexico to manufacture electric vehicles, the company announced on Thursday.
The investment in the Ramos Arizpe manufacturing complex marks the automaker’s first major announcement to produce electric vehicles in Mexico after confirmed billions in investments in the US and Canada.
The facility will produce at least one electric vehicle from 2023, GM said. The company declined to discuss which vehicle or vehicles will be produced there. The plant and supporting facilities currently produce the Chevrolet Equinox and Chevrolet Blazer, as well as engines and transmissions.
The investment includes new capacity for battery packs and other electronic components such as electric motors, which will begin in the second half of the year. A new paint shop is also slated to open in June, according to a translated press release from the company.
The Ramos Arizpe plant is expected to become GM’s fifth manufacturing facility in North America to manufacture electric vehicles after announcing two plants in Michigan and others in Tennessee and Ontario, Canada.
GM is expected to continue building or remodeling plants around the world to evolve into an automaker exclusively electric vehicle by 2035. That includes at least 30 new electric vehicles by 2025 as part of a $ 27 billion investment plan for electric and autonomous vehicles in these timeframes.