General Motors Company (GM) to invest $450M in Detroit plant for 2016 Chevy Volt
General Motors Company (NYSE:GM) has announced that it is expected to update its Detroit-Hamtramck assembly plant by spending $450 million and adding 1,400 new jobs. The car in this case is the updated or redesigned Chevrolet Volt range-extended electric car, which will launch for the model year 2016, according to the Detroit News. The Detroit News cited four sources that are familiar with GM’s plan.
The facility is known for being the sole facility globally to build the Volt and the Cadillac ELR. The facility also assembles the Chevrolet Malibu and Impala. The $450 million investment will be used on battery technologies.
The 2016 Chevy Volt is expected to have a less expensive battery pack with a greater electric range.