George S. May Business Blog

GM puts $336 million in Volt factory

General Motors has made the announcement that they will put $336 million into their Detroit-Hamtrack assembly plant in order to get production of their new Volt started in 2010.

“We expect the Detroit-Hamtramck plant will be the first facility in the U.S. owned by a major automaker to produce an electric car, Jon Lauckner, GM vice president of global product planning, told the company and government officials gathered at the plant Monday.

 General Motors now has $700 million in Volt related investments.

Assembly of Volt prototype vehicles will begin in the spring, with the start of regular production scheduled for late 2010.

The Volt is an electric vehicle with extended-range capability. It is designed to drive up to 40 miles on electricity without using gasoline or producing tailpipe emissions. When the Volt’s lithium-ion battery is depleted of energy, an engine/generator seamlessly operates to extend the total driving range to about 300 miles before refueling or stopping to recharge the battery. Pricing has not been announced.

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