General Motors Co.
Three of Unique Fabricating Inc.'s largest customers — including a top supplier of interiors — have agreed to bail out the insolvent auto supplier of plastics and rubber with price increases and investment of up to $15 million to tide over the company until it sells itself and restructures.
General Motors CEO Mary Barra said the automaker wants to build in redundancy to reduce the possibility for disruptions, a lesson it took from the ongoing microchip shortage.
The automaker is committing nearly $7 billion, the single largest investment in its history, toward building more electric trucks and electric vehicle batteries in Michigan.
The center will mark GM's latest advancement in battery development at its Warren campus. GM's Research and Development Chemical and Materials' Subsystems Lab leads battery development, and the Estes Battery Systems Lab validates the cell, modules and packs.
The automaker envisions its batteries finding their way into other forms of transportation and possibly homes or businesses in the coming years.
The spending plan is $4 billion higher than previously announced and includes two additional U.S. battery plants
General Motors Co. is exploring the possibility of putting its manufacturing muscle toward medical equipment to help treat the novel coronavirus.
As General Motors Co. pushes toward an electric future, it's softening the risk of plunging into an uncertain market by getting a partner to shoulder half the investment it needs in battery manufacturing.
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