DETROIT – General Motors plans to invest more than $ 1 billion in Mexico to manufacture electric vehicles, the company announced on Thursday.
The investment in the Ramos Arizpe manufacturing complex marks the automaker’s first major announcement for the production of electric vehicles in Mexico billion dollars in confirmed investments in the US and Canada.
The facility will produce at least one electric vehicle from 2023, GM said. The company declined to discuss which vehicle or vehicles will be produced there. The plant and supporting facilities currently produce the Chevrolet Equinox and Chevrolet Blazer, as well as engines and transmissions.
The investment includes new capacity for battery packs and other electronic components such as electric motors, which will begin in the second half of the year. According to a translated press release from the company, a new paint shop is also due to open in June.
The Ramos Arizpe plant is expected to become GM’s fifth manufacturing facility in North America to manufacture electric vehicles after announcing two plants in Michigan and others in Tennessee and Ontario, Canada.
GM is expected to continue building plants or converting to electric vehicles around the world to evolve into an electric-only automaker by 2035. This includes at least 30 new electric vehicles by 2025 under $ 27 billion Investment plan for electric and autonomous vehicles during this period.