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General Motors To Invest $3 Bln To Build All-electric Trucks, SUVs

General Motors (GM) on Monday announced it will invest $3 billion for production of a variety of all-electric trucks and SUVs.

The company will invest $2.2 billion at its Detroit-Hamtramck assembly plant to produce a variety of all-electric trucks and SUVs. GM's first all-electric truck will be a pickup with production scheduled to begin in late 2021. This will be followed soon after by the Cruise Origin, a shared, electric, self-driving vehicle unveiled by Cruise in San Francisco last week.

The company said its Detroit-Hamtramck plant will be GM's first fully-dedicated electric vehicle assembly plant.

"Through this investment, GM is taking a big step forward in making our vision of an all-electric future a reality," said Mark Reuss, GM president, during a press event at the plant with Michigan Gov. Gretchen Whitmer and other local and state officials. "Our electric pickup will be the first of multiple electric truck variants we will build at Detroit-Hamtramck over the next few years."

When the plant is fully operational, this investment will create more than 2,200 good-paying U.S. manufacturing jobs.

GM will also invest an additional $800 million in supplier tooling and other projects related to the launch of the new electric trucks.

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