GM Invests in V-8 Engines as It Backpedals on EVs
New $888 million plan marks GM’s largest investment in an engine plant
Mish quotes from WSJ article.
General Motors has abandoned a plan to pump $300 million into electric-vehicle motor production at its upstate New York plant and will instead invest $888 million to make the latest V-8 engines.
Since the EV announcement two years ago for its Tonawanda plant, electric-vehicle sales have slowed, prompting GM and other carmakers to walk back investment plans for the technology.
The company said Tuesday its new plan marks its largest single investment in an engine plant and makes Tonawanda its second propulsion plant to produce the sixth generation of V-8 engines.
The engines, used in full-size trucks and SUVs, use new combustion and thermal management innovations to improve performance while reducing emissions, the company said.
Americans just love them big vehicles!