GM spending $760M to convert Toledo factory to make EV parts
TOLEDO
General Motors says it will spend $760 million to renovate its transmission factory in Toledo, Ohio, so it can build drive lines for electric vehicles.
It’s the first GM engine or transmission plant to begin the long transition from internal combustion engines to electric vehicles. The company has a goal of making only electric passenger vehicles by 2035.
The move will keep the jobs of about 1,500 hourly and salaried workers at the Toledo plant, which now makes four transmissions used in pickup trucks and many other GM internal combustion vehicles. No new hiring is expected.
Electric drive lines take power from the batteries and convert it to motion at the wheels.
The 2.8 million-square-foot Toledo plant, built in 1956, will make drive lines for future electric trucks including the Chevrolet Silverado and GMC Sierra pickups, along with GMC Hummer EVs.
The announcement Friday at the plant is good news for the workers in Toledo, who have worried about the future of their plant. GM employs about 10,000 workers at engine and transmission factories across the U.S., and their futures are uncertain as the switch to electric vehicles picks up momentum.
GM says the factory will continue to make transmissions for internal combustion vehicles, as it gradually switches to electric drive lines. Work on the renovation will start this month, with EV component production beginning early in 2024, Johnson said.
GM CEO Mary Barra has pledged to unseat Tesla as the top seller of EVs by the middle of this decade.
