DETROIT, Michigan: General Motors declared its intent to manufacture electric Chevrolet Silverado pickup trucks in late 2022.
The electric vehicles will be assembled at its plants in Detroit and Hamtramck, according to industry sources.
Another source highlighted that GM will begin selling the Silverado EV in the initial part of 2023 as a 2024 model.
GM had yet to issue a statement on the production timing for the electric Silverado. Shares of General Motors hit an all-time-high of $62.45 after it announced that the electric pickup trucks will be manufactured at the facility in Michigan, also called Factory Zero.
General Motors' plan to manufacture electric vehicles producing has been closely monitored by Wall Street, as it gradually trains its sights on being at par with Tesla Inc, a key player in the EV market. The recent unveiling of the GMC Hummer electric SUV is also planned to be assembled at Factory Zero.
General Motors' strategy includes increasing estimated spending for 2021 of $9 billion-$10 billion, comprising over $7 billion for EV and driverless models.
According to the company, the Silverado EV is capable of traveling over 400 miles when fully charged. Reports surfaced in 2020 on GM being engaged in rolling out the pickup model.
The facility in Detroit and Hamtramck is projected to manufacture a wide array of full-sized electric truck models and SUVs. Announcements are further expected on other models.
Earlier, General Motors had announced that the Hummer EV truck and the Cruise Origin driverless EV shuttle would be manufactured at the facility.