GM to Invest $30 Million on Chevrolet Volt Battery Plant
Chevrolet North American Vice President, Ed Peper, said last night at the Automotive News World Congress that GM would invest $30 million on the U.S. plant that will build the batteries for its upcoming Chevrolet Volt electric car. The plant, which is scheduled to open in Michigan in 2010, will assemble the 400-lb battery packs manufactured by South Korean company LG Chem.
Peper said the Chevrolet brand was chosen to receive the Volt model because GM could not afford to make the Volt a niche vehicle. “We have to make it a mass-production vehicle,” he said.
The Volt is GM’s attempt at mass-marketing an all-electric plug-in car. While most product development has been put on hold within the company due to financial troubles, the Volt project has been pushed full-steam ahead. The electric car can run for 40 miles on a single battery charge.
Source: Automotive News