On Tuesday, General Motors announced plans to spend $7 billion on electric pickup trucks and build a new battery cell plant. This move by GM will create up to 4000 jobs and keep another 1000 further employed at an underused plant north of Detroit. $4 billion will be spent to convert and expand the Orion Township plant to create electric pickups. Between 1.5 billion to 2.5 billion will be spent on building a plant making battery cells.
Both factories should be producing in about two years. GM is taking the chance in this investment as more consumers convert from combustible engines to battery power.