With newfound confidence and IPO dollars, GM hires 1,000 for EV division

GM announced on Nov. 30 that it's hiring 1,000 engineers and researchers over the next couple of years for its electric vehicle division. When was the last time GM announced the creation of high-paying jobs?

This time around, GM is very optimistic, and full of new found confidence. With billions of dollars from a recent IPO, and a single order for 12,000 Chevy Volts from GE, who wouldn't be?

Today's GM is a far cry from the GM of 2 years ago, having done a complete U turn from gas guzzlers to plug-in electric hybrids. It took awhile, but finally it seems that GM is giving itself a chance to grab back its competitive edge, and the #1 position from Toyota.

“GM is going to lead the industry in the adoption of various vehicle electrification technologies, whether its electric vehicles with extended-range capability, like the Chevrolet Volt, or the recently
introduced eAssist technology that will debut on the 2012 Buick LaCrosse,” GM CEO Dan Akerson said. “We want to give our customers energy choices other than petroleum and to make the automobile part of the solution when it comes to the environment."

"Deep experience and expertise in batteries, electric motors and power controls will ensure GM provides the best possible electric vehicle choices to customers around the world," Akerson said.

The 1,000 engineering and researh jobs represent a big commitment to EVs on GM's part. At an

estimated $100,000 per year per job, it's $100 million a year that GM will spend on these new green jobs. GM has already spent $700 million building the manufacturing infrastructure for the Volt, and is also investing over $400 million in advanced battery technology and powertrain development.

In addition to GM’s investments, suppliers such as LG Chem, utility companies such as DTE Energy and organizations including the University of Michigan and Wayne State University, are investing in Michigan jobs to support Chevy Volt and electric vehicle development.

“The state of Michigan is proud to continue our long partnership with GM as it drives toward a leaner, greener future,” Michigan Gov. Jennifer Granholm said. “As we work to diversify our state’s economy both within the auto industry and outside of it, electric vehicles will play a major role in re-establishing Michigan as the North American center of automotive manufacturing.”

See the full text of the press release on the Green Job Bank.

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