General Motors announced today it will invest $75 million in its Toledo, Ohio transmission manufacturing plant. The investment will increase the plant’s capacity to build 10-speed automatic transmissions that are used in GM’s award-winning full-size truck products including the Chevrolet Silverado and GMC Sierra. Work will begin immediately at the Toledo plant.
“Through this investment, we continue to take steps to strengthen our current core business and build on our significant manufacturing presence in Ohio,” said Phil Kienle, GM vice president, North America Manufacturing and Labor Relations. “We appreciate the GM Toledo team’s commitment to build world-class products for our customers and this investment recognizes their efforts.”
Since 2009, GM has invested more than $3.3 billion in Ohio. Separately, GM and LG Chem formed a joint venture – Ultium Cells LLC – and together are investing more than $2.3 billion to build a new, state-of-the-art battery cell manufacturing plant in Lordstown that will create more than 1,100 new jobs. Construction of the facility is progressing on schedule. The new battery cell manufacturing plant will play a critical role in GM’s commitment to an all-electric future.
In 2019, GM paid more than $450 million in taxable wages to employees in Ohio. GM currently has more than 3,800 employees in the state.
In addition, GM has continued its commitment to the Lordstown community by working closely with Lordstown Motors Corp. since May 2019 to support the launch of its Endurance pickup. The acquisition of Lordstown Motors by DiamondPeak Holdings Corp. is expected to close during the fourth quarter and the company will be listed on the Nasdaq. GM is investing $75 million in the company, which includes the sale of the former Lordstown Assembly plant and production equipment.
Toledo Transmission Operations opened in 1916. Plant employees produced truck transfer cases and transmissions for four- and six-wheel-drive military trucks throughout World War II. Today, about 1,700 team members proudly manufacture and assemble GM’s six-speed, eight-speed, and 10-speed rear-wheel-drive and nine-speed front-wheel-drive transmissions that are used in a variety of Chevrolet, Buick, GMC and Cadillac vehicles. Hourly employees are represented by UAW Local 14.
SOURCE: General Motors
