John Rosevear of MF sniffed this out the other day on Twitter. He was right:
https://twitter.com/peregreine/status/1486195693295476737
GM Plans Multibillion-Dollar EV Push With Michigan Plants
Auto maker doubles down on electric-truck production, plans battery-cell factory with LG Energy Solution
By Nora Eckert
Jan. 25, 2022 11:00 am ET
General Motors Co. $GM confirmed plans for a multibillion-dollar investment to produce electric pickup trucks in Michigan, giving the Great Lakes region a boost as competition intensifies between states to win a bigger role in the industry’s shift to battery-powered cars.
The auto maker on Tuesday said it would convert a suburban Detroit factory into a center for the production of electric pickup trucks and build a battery-cell plant in Lansing, Mich. It plans to spend $4 billion to convert its Orion Assembly factory to build plug-in trucks and will split the cost of the $2.6 billion battery factory with partner LG Energy Solution.
On top of this spending, GM plans to invest about $500 million into two assembly plants near Lansing.
My latest daily, weekly and monthly charts are at the same link: