4/30, 2:02 AM (Source: TeleTrader)
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GM to invest $1M in EV production in Mexico

General Motors Company (GM) stated on Thursday it will invest more than $1 billion into the production of electric vehicles (EV) in one of its plants in Mexico.

The company said its Ramos Arizpe production complex in the federal state of Coahuila will manufacture at least one EV starting from 2023. The move attracted criticism from the United Auto Workers (UAW), which labeled it a "slap in the face" for "not only UAW members and their families, but also for US taxpayers and the American workforce."

The announcement comes after GM and LG Energy Solution confirmed they raised over $2.3 billion in investments to build a second battery cell manufacturing plant in the United States.

Breaking the News / JR