Common Motors on Thursday confirmed a $500 million funding in its Arlington, Texas, meeting plant to get it able to construct the subsequent technology of its inside combustion engine-powered full-size SUVs.
The information got here on the identical day that GM CEO Mary Barra and Tesla CEO Elon Musk introduced a landmark deal that may see GM’s future electrical autos undertake Tesla’s charging expertise and achieve entry to its Supercharger community.
“As we speak we’re asserting plans for a big funding in Arlington to strengthen our industry-leading full-size SUV enterprise,” GM’s govt vice chairman of World Manufacturing and Sustainability Gerald Johnson stated.
“Getting ready the plant to provide future ICE full-size SUVs displays our dedication to our valued clients and the efforts of the devoted Arlington Meeting workers, who’ve been breaking manufacturing information this yr.”
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The Chevrolet Tahoe and Suburban, GMC Yukon and Cadillac Escalade comprise the best-selling lineup of full-size SUVs within the U.S. and are a significant revenue middle for GM.
Beginning costs for the fashions vary from $56,095 for the entry-level Tahoe to $151,090 for the excessive efficiency Escalade-V.
The transfer follows a $854 million funding in V8 engine manufacturing to help GM’s giant SUVs and pickups that was introduced in January.
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A timeframe for the launch of the next-generation SUVs has not been revealed, however they are going to be joined by an all-electric Cadillac Escalade in 2025 that’s constructed on a separate platform shared with the GMC Hummer EV and upcoming Chevrolet Silverado EV.
In Might, GM revealed that the brand new mannequin might be known as the Cadillac IQ, however has withheld additional particulars in the meanwhile.
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“The Cadillac ESCALADE IQ might be revealed later this yr and guarantees the identical dedication to craftsmanship, expertise and efficiency that has helped the Escalade nameplate dominate the big luxurious SUV section for the final 20 years,” the model stated.