By Paul Lienert
DETROIT, Sept 16 (Reuters) - An all-electric pickup truckand an advanced battery system will be part of the $7 billionthat General Motors Co has pledged to invest in theUnited States as parts of contract talks with the United AutoWorkers.
The automaker and the union were continuing talks late onMonday to resolve a strike by 48,000 hourly workers that shutdown GM's highly profitable U.S. operations.
GM said on Saturday it would make investments in eightfacilities in four states, but did not specify timing, locationor products other than the electric pickup and a battery cellplant.
Some of that investment is earmarked for the production ofelectric vehicles in Michigan and battery cells in Ohio, sourcessaid.
GM also is expected to update plants in Michigan, Tennesseeand Missouri to build redesigned versions of its midsize pickupsand crossovers, according to a GM source. The company said itwill invest in “additional new vehicle and propulsion programs,”but said nothing about opening new plants.
"With as much excess capacity as GM still has, the companywon't be opening any new plants for the foreseeable future,"said AutoForecast Solutions Vice President Sam Fiorani.
GM has said it plans to introduce a stable of electricvehicles by 2023, but has not provided details. Sources havesaid those vehicles will feature an advanced battery system anda new vehicle structure that is flexible and modular, toaccommodate different vehicle types and sizes.
Over the past three years, GM has spent an average $8.45billion a year on capital expenditures. Most of that investmentwas made in North America, another GM source said.
The $7 billion investment pledged to the UAW works out toless than $2 billion a year over the four-year life of theproposed contract.
Reuters last week disclosed that GM plans to introduce afull-size electric pickup in 2022, citing officials familiarwith the company's plans.
On Monday, a person familiar with GM's offer to the UAW saidthe company could produce the electric truck at theDetroit-Hamtramck plant that now has no future assignment.
GM could also build an electric vehicle battery plant nearits shuttered assembly plant in Lordstown, Ohio.
(Reporting by Paul Lienert in DetroitEditing by Matthew Lewis)