General Motors Push New Volt Technology Toward Market
by Max Lien, age 13
General Motors (GM) plans to spend $700 million on the production of an electric car, the Chevrolet Volt. With the opening of new plants in several parts of Michigan, this new rechargeable car will be a technological and economic boost for that state.
GM is making an investment of $336 million toward mass production of the Volt in 2010. Approximately $202 million more will go to a factory in Flint, Michigan, to build generators. Next, $43 million will be spent on a plant that will make battery packs for the Volt in Brownstown Township, a suburb of Detroit. Also, $37 million will be used for a powertrain plant in Bay City, Michigan. About $27 million will go to the GM Tech center in Suburban Warren, where the Volt’s battery lab is located.
In 2009, the State of Michigan approved a $135.2 million tax incentive for the sites where GM is investing in these new technologies. The bankruptcy of GM and Chrysler, which led to the closure of more than 30 factories in the U.S. and Canada, hit Michigan hard. The state has an unemployment rate among the highest in the country.
This new investment brings hope that solutions to Michigan’s economic distress can be found in newer, more advanced technology.
[Source: Associated Press]