GM Plans to Invest $30 Million in Battery Plant for All-Electric Chevy Volt
DETROIT --- General Motors Corp. said it will invest $30 million in a U.S. plant that will build next-generation batteries for its all-electric Chevrolet Volt, Reuters reported.
The facility is set to open in Michigan in 2010. The plant will assemble lithium-ion battery cells manufactured by South Korea's LG Chem Ltd. into 400-pound packs. These packs will power the Volt plug-in car.
"We chose Chevy because we can't be niche with the Volt. We have to make it a mass-production vehicle," Ed Peper, North American vice president of GM's Chevrolet brand, said at the Automotive News World Congress in Detroit.
The Volt is being designed to run 40 miles on a single battery charge.