General Motors announced an investment of 5.411 billion yuan in the Ohio plant to produce electric vehicle drives

CTOnews.com, September 24, with the continuous development of electric vehicles, many traditional automakers have begun to electrify to expand their market in the field of electric vehicles. In early September, GM launched a new electric SUV Chevrolet Equinox EV, which is based on the Altenon platform and starts at $30,000. Today, GM announced a new investment in the electric vehicle industry.

GM will invest $760 million (5.411 billion yuan) in its Toledo plant in Ohio to make electric vehicle drives, according to GM's website. Specifically, these drives will include front-wheel drive, rear-wheel drive and all-wheel drive, and will be used in electric vehicles based on the Orlando platform, including Chevrolet Silverado electric vehicles, GMC Sierra electric vehicles and GMC Hummer electric vehicles.

"this investment gives job security to the team at the Toledo plant and is a step towards full electrification," said Gerald Johnson, GM's executive vice president of global manufacturing and sustainability.

On Sept. 16, General Motors announced a $491 million investment in its metal stamping plant in Marion, Indiana, to prepare for the production of electric car parts, CTOnews.com previously reported.