According to General Motors, a "major U.S. manufacturing announcement" will be made Friday morning.
The announcement is scheduled for 9 a.m. on Friday at the Tennessee State Museum in Nashville, and can be streamed online by clicking here. Gov. Bill Lee, GM CEO Mary Barra and other senior leaders from GM and LG Energy Solution will be present during the announcement.
While GM spokesperson Daniel Flores could not confirm what Friday's announcement would be about, Reuters was first to report that the announcement would be for the new battery plant in Spring Hill citing "three people familiar with the matter."
The Nashville Business Journal's subsequent report revealed more concrete details on the announcement, including that the new plant would cost $2.37 billion — the single largest investment in Tennessee in the state's history.
That record was previously held by GM as well when less than a year ago, the auto-manufacturer announced a $2 billion investment into the Spring Hill GM Plant for the purpose of manufacturing new elective vehicles.
Spring Hill Mayor Rick Graham said that if the news were indeed true, it could be a "game-changer" for Spring Hill and ensure long-term stability for the economic future of the city.
"With that $2 billion investment [a few] months ago, and then with this one, that's [$4.4] billion in one region — that's unbelievable," Graham said.
"Now this plant's going to be there 50 years from now; to be one of the few that's going to be making electric vehicles, this gives us long-term stability and that's incredible. All these other car plants that will continue to make gasoline engines for another 15, 20 years, they could close, so this is going to keep this plant open long-term."
The continued investment into electric vehicles is part of a wider imitative on GM's part to phase out gas-powered vehicles by 2035, with the company planning to have invested $27 billion by 2025 on electric and driverless cars.
Employing just over 3,800 people, the Spring Hill GM Plant is the company's single-largest plant in North America.