Salem Radio Network News Thursday, July 7, 2022

Business

GM to invest more than $6.5 billion in Michigan – document, sources

WASHINGTON/DETROIT (Reuters) – General Motors and a joint venture with LG Energy Solution are to set announce investments of more than $6.5 billion next week in Michigan, according to a state document and sources briefed on the matter.

The Michigan Strategic Fund said Friday it plans to consider a Tuesday board meeting GM’s and the joint venture’s plans to invest $6.5 billion and add 4,000 jobs at sites in Lansing and Orion Township.

Reuters reported in December GM had proposed building a $2.5 billion battery plant near Lansing with LG Energy Solution. Reuters also reported GM was separately considering a $2 billion overhaul of its Orion Township to build next-generation electric vehicles.

(Reporting by David Shepardson and Paul Lienert)

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