GM Invests $246 Million to Build Electric Motors in U.S.
General Motors (GM) announced Tuesday that the company is investing $246 million to make electric motors for it’s next-generation hybrid and electric vehicles in their Baltimore area transmission plant.
The plant will be the first electric motor manufacturing facility in the U.S. operated by a major automaker, according to GM’s press release.
“Electric motors are driving the next wave of automotive growth,” said Tom Stephens, GM’s vice president for global vehicle operations. “The expansion of the Baltimore plant will generate a significant influx of money and jobs into the greater Baltimore area, creating U.S.-based manufacturing jobs.”
The plant, which opened in 2000, will employ nearly 400 people.
“Electric motors are the engines of the future,” Stephens said. “By designing and manufacturing electric motors in-house at Baltimore Transmission, we can more efficiently control the design, materials and production processes. It will also enable us to lower costs and improve performance, quality, reliability, and manufacturability of the electric motors we use in our vehicles.”
The investment will be underwritten in part by a $105 million grant awarded to GM last year by the U.S. Department of Energy.
“In the future, electric motors might become as important to GM as engines are now,” said Stephens. “Our goal is simply to establish GM as a leader in automotive electric motors,” he said.
- For those who want an inside edge in the energy sector.
- Written by veteran energy analysts and insiders with a track record of accurately predicting trends.
- 100% FREE!
- And Much More...
Total Energy USA Conference and Exposition
November 19-21, 2013 - Houston, TX
Platts Global Energy Outlook Forum
December 12, 2013 - New York, NY