GM to Invest $1 Billion to Produce Electric Vehicles in Mexico Starting 2023

[Photo by AFP Yonhap News]

[Asia Economy Reporter Byunghee Park] American automobile company General Motors (GM) announced on the 29th (local time) that it plans to invest more than $1 billion to produce electric vehicles in Mexico.

According to CNBC, GM stated that it plans to produce electric vehicles in Mexico starting in 2023. Currently, GM produces Chevrolet Equinox and Chevrolet Blazer, vehicle engines, transmissions, and more in Mexico.

Through this investment, GM plans to equip the local factory with facilities capable of manufacturing battery packs and electric vehicle motors. The Mexico plant is expected to become GM's fifth electric vehicle factory in North America.

In January, GM declared its transition to an electric vehicle company by announcing that it would globally cease production and sales of gasoline and diesel engine vehicles by 2035.

The United Auto Workers (UAW) expressed opposition to GM's investment plan in the Mexico plant. Terry Dittes, UAW Vice President, said, "Companies that utilize labor outside the United States should not receive taxpayer money."

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