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General Motors launches $300m Assembly Plant in US’ Michigan

General Motors launches $300m Assembly Plant in US’ Michigan

Mubasher: US auto manufacturers General Motors (GM) is planning to invest as much as $300 million in a new plant in Michigan.

The new Orion Assembly Plant will see the launch of a new electric vehicle, according to CNBC.

Intended at creating 400 jobs, the new plant is a part of GM’s pledge to invest $1.8 billion on manufacturing in the US, securing 700 jobs.

Image result for general motors assembly plant

"It makes sense because the Chevrolet Bolt EV is built at Orion and this is a great workforce. So there is capacity here to be able to do that and there are synergies as well,” CNBC reported, citing GM’s CEO Mary Barra as saying.

Under the brand of GM's Chevrolet, the new vehicle will be offered for customers within one or two years.

GM reported $2.53 billion in profit in the third quarter of 2018, while the company’s diluted earnings per share (EPS) hit $1.75.