GM Invests $300 Million For A New Electric Vehicle And More Jobs

General Motors announced a $300 million investment to build a new Chevrolet electric vehicle that will sit alongside the Bold.

After abandoning the Chevrolet Volt in a major restructuring last fall, the US manufacturer invested in its Orion Township plant in Michigan. This plant, which builds the Chevrolet Bolt, will enjoy a $300 million investment that will bring 400 new jobs.

This funding will be used to create a brand-new electric model for Chevrolet. This new electric car will be designed and developed from an advanced version of the architecture of the current Chevrolet Bolt.

For now, that’s all we know about this upcoming EV. GM mentions that more information will be released when the vehicle will be closer to production.

“We are excited to bring these jobs and this investment to the U.S.,” said GM Chairman and CEO Mary Barra during the announcement. “This new Chevrolet electric vehicle is another positive step toward our commitment to an all-electric future. GM will continue to invest in our U.S. operations where we see opportunities for growth.”

The Orion assembly plant, in addition to producing the Chevrolet Bolt and Sonic, is also where GM converts the Bolt into an autonomous car for Cruise, the division that tests and develops autonomous automotive technology.

Let’s not forget that just a few days ago, Ford announced a $900 millions investment at its Flat Rock, Michigan facility. This investment, which will create 900 jobs over four years, will focus on building a new generation of electric vehicles. FCA also announced a major investment a few weeks back with the intention of adding electric vehicles to its various lineups including a Jeep Wrangler PHEV.