General Motors plans to build a brand new fleet of premium electric pickup vehicles and sport-utility automobiles at its Detroit-Hamtramck plant starting in late 2021, possibly reviving the imposing Hummer model on some of them, people familiar with the plans said.
The so-called BT1 electric SUV venture is the centerpiece of a planned $3 billion investment in the Detroit-Hamtramck plant to make electric trucks and vans, and a part of a broader $7.7 billion funding in GM’s U.S. manufacturing plants over the subsequent four years, according to a proposed labor settlement between the company and the United Auto Workers union.
The investments were made public by the UAW on Friday, but no particulars have been provided.
The investment would transfer the auto manufacturer into part of the EV sector that’s largely untested, and where GM has a higher probability of turning a revenue, analysts said.
GM is mirroring the approach, electric car manufacturer, Tesla took by starting in the high end, after which moving down the price ladder, he stated.
That is vital for an organization that previously tried to sell the plug-in electric hybrid Chevrolet Volt and all-electric Bolt automobiles at lower costs and higher volumes, but did not sell enough to make those attempts worthwhile, Fiorani stated.
The UAW’s 48,000 GM hourly employees are scheduled to vote next week on the proposed contract that might conclude a month-long strike that analysts say has cost the No. 1 U.S. auto company around $2 billion.
GM’s BT1 program includes an electric pickup for the GMC brand and an electric SUV for Cadillac, both due in 2023, the sources stated.