GM will make an announcement regarding an investment in its Toledo Transmission plant to support battery electric vehicle production on Friday, September 23rd, according to a recent report by the Detroit Free Press.
On Wednesday, the automaker indicated that the statement will be made as part of a “positive plant manufacturing announcement” to be made on Friday. That will make the Toledo plant the first GM powertrain-specific assembly facility to receive funds earmarked for electric vehicles.
The specifics of the investment will be revealed in full during the Friday announcement, which will be attended by Gerald Johnson, GM executive vice president of manufacturing and sustainability. Other notable attendants will include Ray Curry, United Auto Workers President; Ohio governor, Mike DeWine; U.S. Senator Sharrod Brown; and U.S. Representative Marcy Kaptur.
Currently, the Toledo Transmission plant employs 1,700 workers and produces transmissions for various GM front-wheel-drive and rear-wheel-drive vehicles, including Cadillac, Chevrolet, Buick and GMC-branded automobiles. The most recent investment, which took place in 2021, involved a $75 million allocation toward increased production capacity for GM’s 10-speed automatic transmission, which can be found in the automaker’s full-size trucks, full-size SUVs, along with rear drive luxury sedans such as the Cadillac CT4 and CT5.
The new investment at the Toledo plant will be the latest in a growing list of financial allocations to improve and expand electric vehicle production and development. Operations recently kicked off at GM’s new Ultium Cells plant in Warren, Ohio, which produces Ultium battery cells for vehicles like the GMC Hummer EV and Cadillac Lyriq.
Additionally, the automaker recently announced a new $491 million investment toward its metal stamping operations in Marion, Indiana to help support the production of steel and aluminum stamped parts for a myriad forthcoming vehicles, many of which will be EVs. These and other investments will help GM reach its goal of producing one million EVs annually by 2025.