WSJ: GM to invest $450M to increase electric vehicle production

|By:, SA News Editor

General Motors (GM) is expected to announce a $450M investment in two Michigan plants to increase development and output of its Chevy Volt and Cadillac ELR hybrid-electric vehicles, WSJ reports.

Critics could say the move is throwing good money after bad, as GM had sold ~3,600 Volts through the end of March, a 15% Y/Y drop despite cutting the price of the car by $5K to $35K.

GM's new vice president of North America manufacturing, Gerald Johnson, is expected to confirm the details tomorrow.