General Motors CEO Mary Barra rang the opening bell for the New York Stock Exchange from the floor of the automaker’s newly opened Factory Zero plant in Detroit-Hamtramck, Michigan this morning.
Barra rang the opening bell for the NYSE ahead of President Joe Biden’s visit to the assembly plant later today for a press conference. According to The Detroit News, Biden’s press conference will address how the infrastructure bill that passed this week will help facilitate the transition from internal combustion engine vehicles to battery-electric vehicles in America.
GM invested $2.2 billion in the Factory Zero plant (formerly referred to as Detroit-Hamtramck Assembly) in order to prepare it to produce a variety of large electric vehicles, including the GMC Hummer EV Pickup and GMC Hummer EV SUV, the Cruise Origin robotaxi and the forthcoming Chevy Silverado EV. The plant celebrated its grand opening today and will begin production of the GMC Hummer EV Pickup in the near future.
“GM’s U.S. manufacturing expertise is key to achieving our all-electric future,” Barra said in a prepared statement. “This is a monumental day for the entire GM team. We retooled Factory Zero with the best, most advanced technology in the world to build the highest quality electric vehicles for our customers.”
GM says Factory Zero will employ more than 2,200 once it is up and running at full capacity. The plant will not reach full capacity until about mid-decade, when both GMC Hummer EV variants are in production alongside the Cruise Origin and Chevy Silverado EV.
Factory Zero isn’t the only ICE vehicle plant that GM plans to convert to an EV-only facility. Other existing GM plants will also be converted between now and 2030, with the automaker’s executive vice president of Global Manufacturing and Sustainability, Gerald Johnson, saying Factory Zero “serves as a model for transitions that will take place at other factories around the world in the coming years.”
“To meet our ambitious EV transition, GM’s North American EV vehicle assembly capacity will reach 20 percent by 2025, and then 50 percent by 2030,” Johnson said.
The first vehicle to be produced at Factory Zero will be the 2022 GMC Hummer EV First Edition, which sold out shortly after its unveiling earlier this year. Prices for the Hummer EV Edition 1 started at $112,595 when it was still available for purchase.