General Motors said it will spend $154 million to refurbish a plant near Buffalo where the automaker manufacturers a key part of the motor used in electric vehicles.
The investment in the Western New York Lockport Components plant, which will go toward renovating the facility and installing new machinery, is expected to create some 230 new jobs.
The company said that the new hires will begin next year, though “actual staffing plans will be finalized closer to the start of production as the facility transitions to support EV motor component production.”
The equipment will be used to mass-produce the stator module, which will help power the company’s propriety propulsion system — the Ultium Platform.
The platform will help power GM’s fleet of 30 electric trucks and SUVs that the Detroit-based company has pledged to bring to market by 2025. GM has ambitions to go all-electric by 2035 and to double its revenue by 2030 by challenging Tesla, which has raced ahead of its competitors in the burgeoning EV market.
“GM’s investment in Lockport Components reaffirms our commitment to manufacturing in Western New York and our confidence in this team,” said Gerald Johnson, GM’s executive vice president of global manufacturing and sustainability.
Johnson said the investment “is an excellent example of how we are bringing our workforce along on the journey to an all-electric future while we scale our EV production capacity and maintain a flow of parts for our current vehicles.”
Earlier this month, GM CEO Mary Barra said that the company’s line of legacy heavy-duty pickups, including the Chevy Silverado and the GMC Sierra, will all be fitted with zero-emissions tailpipes by 2035.
The company has invested $35 billion to develop electric and autonomous vehicles within three years.
The company has its work cut out for it. Japanese competitor Toyota outsold GM in the US last year — marking the first time the Detroit automaker has not led US auto sales since 1931.