November 27, 2022

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GM to build two additional battery plants

1 min read

Increasing investment in the EV market

GM is in the news as they announced that they will build two additional battery plants increasing the number to 4 in total. That increases the infrastructure build by 30% to $35 billion. The largest US auto manufacturer also lifted first half adjusted EBIT outlook to as much as $9.5 billion.

GM has increased the investment into EV from $20B to the now $35B number. 

With the US chip making production/investment also on the rise, total investment in infrastructure is happening outside of government.  Intel which announced they would invest $20 billion in 2 new fabrication units in Arizona, is also in the news this morning saying that they will form a government affairs advisory committee.

The shares of GM have increased 2.2% in premarket trading.

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