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Tennessee OKs $35M incentives for GM electric vehicle plant

Tennessee AG Announces $120M Settlement With GM
Posted at 8:33 PM, Nov 24, 2020
and last updated 2020-11-24 21:33:56-05

NASHVILLE, Tenn. (AP) — A Tennessee panel has approved $35 million in economic incentives for General Motor’s plan to convert its Spring Hill assembly plant to build future electric vehicles. The State Funding Board unanimously approved the incentives Tuesday.

The money will be used as a job training assistance grant to retrain 2,000 full-time employees for the new vehicle project.

Earlier this year, GM announced that it would spend $2 billion to change the Spring Hill factory into its third U.S. electric vehicle plant. According to GM, the company will build the Cadillac Lyriq, a small electric SUV, at the factory.