General Motors Co. plans to spend $6.5 billion on an electric pickup plant and battery factory in Michigan thanks in part to a $1.8 billion incentive package put together by the state to make sure the automaker didn’t take a big piece of its EV business elsewhere.
The automaker’s investment and the subsidy package were disclosed Jan. 25 by state and local economic development authorities. There’s a race among states to woo automakers and technology companies for battery and EV plants, semiconductor manufacturing and other high-tech business expansion. Economic development staff in Michigan wanted to make sure the state remains a key location for the future of automaking as the industry shifts from fossil fuels to electricity.
