GM Announces $760M Investment In Toledo Propulsion Plant For EV Drive Units4
GM has announced that it will invest $760 million in the GM Toledo Powertrain plant in Ohio to support all-electric vehicle drive unit production. The new EV drive units will be used in several GM Utlium-based trucks, including the Chevy Silverado EV, GMC Sierra EV, and GMC Hummer EV.
The new EV plant upgrades will begin this month. This latest investment brings GM’s total investment in the facility to $1.9 billion since 2011. GM previously invested $75 million in the facility in 2021 to increase production capacity for the automaker’s 10-speed automatic transmission, which is equipped by GM full-size trucks, full-size SUVs, and rear-wheel drive luxury sedans like the Cadillac CT4 and Cadillac CT5. The GM Toledo Powertrain plant will be the automaker’s first U.S. propulsion-related manufacturing facility upgraded specifically for EV-related production.
GM purchased Toledo Propulsion Systems in 1956. At present, the facility produces a range of transmissions for internal-combustion-based products, including six-speed, eight-speed, and 10-speed transmissions for rear-wheel drive applications, as well as nine-speed transmissions for front-wheel drive applications. The transmissions are equipped by Buick, Cadillac, Chevy, and GMC vehicles. The facility employs roughly 1,500 workers.
Looking ahead, the new EV drive units will cover front-wheel drive, rear-wheel, and all-wheel drive propulsion combinations, as well as both high-performance and off-road applications.
“Our Toledo team has a long, proud history of building great products and they have worked hard to earn this investment,” said GM executive vice president of Global Manufacturing and Sustainability, Gerald Johnson. “This investment helps build job security for our Toledo team for years to come and is the next step on our journey to an all-electric future.”
Other recent EV-supported production investments include $491 million for the GM metal stamping operations in Marion, Indiana. GM aims to produce one million EVs annually in North America by 2025.
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Good move, GM. Keep up investing in American factories.
Turbo diesel for me !
Great news with keeping the manufacturing in the U.S. but did I read that correctly that this is the factory that builds the eight speed transmissions?