GM will invest $75 million in its transmission plant in Toledo, Ohio in order to increase the production of its 10-speed automatic transmission.
By increasing production of the 10-speed automatic transmission in Toledo, GM will unlock additional production capacity for the hot-selling Chevy Silverado and GMC Sierra. Work at the plant is expected to begin immediately.
“Through this investment, we continue to take steps to strengthen our current core business and build on our significant manufacturing presence in Ohio,” said GM’s vice president of North America Manufacturing and Labor Relations, Phil Kienle, said in a statement. “We appreciate the GM Toledo team’s commitment to build world-class products for our customers and this investment recognizes their efforts.”
GM has invested a total of $144 million in the Toledo transmission plant over the past four months, Toledo plant Executive Director Eric Gonzalez and UAW Local 14 shop Chairman Jeff King said in a joint statement this week, decisions that they say “reflect confidence in the TTO (Toledo Transmissions Operations) team,” and “showcases the sense of ownership and pride our employees have in the transmissions we build in Toledo.”
The GM 10-speed automatic transmission is used in certain versions of the Chevy Silverado 1500 and GMC Sierra 1500 as well as the Silverado HD and Sierra HD. The automaker has been eager to ramp up production of the full-size pickups in order to keep up with strong demand and recently announced it would invest $1 billion in its Oshawa Assembly plant in Ontario to bolster production of the vehicles.
The COVID-19 pandemic also hit GM’s truck production output hard, with Unifor president Jerry Dias saying the automaker’s showrooms are currently “sitting at less than 50% of what they would like to be.”