GM spending $760M to convert Toledo factory to make EV parts
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
TOLEDO, Ohio (AP) — 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 investment 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.
It's good news for the workers in Toledo, who have been 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.
