GM announces $300 million investment for new American-made electric car

General Motors will invest $300 million and create 400 jobs to build a new electric car in Michigan, CEO Mary Barra announced on Friday.

The Chevrolet model will be a derivative of the Bolt EV and was originally slated to be built at a location outside of the U.S., but will instead be produced alongside of the Bolt at GM's Orion Assembly plant, north of Detroit. The facility is currently also used to convert Bolts into autonomous cars for GM’s Cruse division and produce Chevy Sonic subcompacts.`

The Bolt was the first sub-$40,000 electric car with a range over 200 miles per charge.

The Bolt was the first sub-$40,000 electric car with a range over 200 miles per charge. (Chevrolet)

The news comes at the end of a week that saw President Trump continually criticizing GM for closing a factory in Ohio while Ford revealed a $900 million plan that includes the manufacture of electric cars at its Flat Rock, Mich., plant.

The Bolt features a floor-mounted battery pack that's good for 238 miles of range.

The Bolt features a floor-mounted battery pack that's good for 238 miles of range. (Chevrolet)

Details on the new vehicle were not revealed, including when it will go on sale, but GM said it will use an “advanced version” of the Bolt’s architecture, which underpins the $37,495 compact utility vehicle with a battery pack that provides 238 miles of range per charge. Chevrolet sold just over 18,000 Bolts in the U.S. last year, a drop of nearly 23 percent compared to 2017.

(Cadillac)

General Motors still plans to launch an electric Cadillac SUV announced at the Detroit Auto Show in January on a separate, next-generation electric platform around 2022.

This is a developing story. Check back for updates.