GM to invest $75M in Toledo Transmission
That investment is meant to increase the plant’s capacity of full-size truck 10-speed transmissions, which includes the Chevy Silverado and GMC Sierra.
TOLEDO, Ohio (WTVG) - General Motors will reportedly be making a major investment in Toledo’s auto industry in 2021. According to an internal letter from management at Toledo Transmission and the United Auto Workers Local 14, the automaker has announced a $75 million investment in Toledo Transmission for the coming year. According to the letter, that investment is meant to increase the plant’s capacity of full-size truck 10-speed transmissions, which includes the Chevy Silverado and GMC Sierra.
This investment joins an earlier $39 million investment from GM into the plant which was earmarked primarily for upgrades to the eight-speed rear-wheel-drive transmission.
“These commitments not only reflect confidence in the TTO team, but also showcases the sense of ownership and pride our employees have in the transmissions we build in Toledo,” said the letter.
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