General Motors, one of America’s largest car manufacturers, recently announced its plans to shift manufacturing electric vehicles. This decision comes after the company’s long-standing position in manufacturing internal combustion engines that is yet to change. The move is advantageous for General Motor because its market price recorded a slight increase after the announcement. The change will not be adversely beneficial to the labour market because it will not create new jobs.
GM joined the move towards electric vehicles to establish 20 EV models in its product line by 2023. The most notable change in its product line is redesigning its Cadillac Lyriq crossover into an electric vehicle at the car manufacturers Spring Hill plant in Tennessee. GM is committing to this plan. It has already established three electric vehicle-manufacturing plants in the U.S. There are rumors that GM is currently manufacturing the first fully electric sports utility vehicle expected to be a new Hummer version. The company expects that this new project will be complete come 2022.
General Motors further plans to shift its Detroit based Hamstruck assembly plant to a fully functioning EV manufacturing plant. The plant was previously destined for closure. However, it will be repurposed into an EV plant with a new name, Factory Zero. The Zero is a campaign strategy to mean zero crashes, zero emissions, and zero congestion. This is the proposed birthplace of the renewed Hummer EV.
General Motors has not announced an official starting price; however, speculations range that it will be close to $112000. The company made its plans public in February when it announced a $22 billion investment meant to repurpose the Detroit-Hamstruck plant to manufacture electric vehicles.
General Motors also announced a new entry in its Orion assembly based in North Detroit. Speculation states that this entry will be a new variant of the Chevrolet. This announcement is a new prospect in General Motors assembly as there will be minimal changes required for generating the new Chevrolet electric vehicle. The Orion assembly is the current manufacturing plant for the Chevrolet Bolt.
Furthermore, Chevrolet is not alone in its quest to specialize in EV manufacturers. The fellow carmaker and rival Ford also announced its shift towards EV manufacturing with an expected launch over its F1 50 pickup truck’s evolution. Ford plans to have its pickup truck ready by 2021 by assigning its Dearborn truck assembly plant to develop the new line of electric SUVs and pickups. Other Ford brands on the way to becoming EVs are Ford’s transit van, the Ford Lincoln crossover, and plans to introduce two electric crossover versions into its product line.https://beveragemanager.net/