General Motors to Invest $760 Million in Toledo Plant for EV Drive Units
September 23 2022 - 12:34PM
Dow Jones News
By Chris Wack
General Motors Co. said Friday that it would invest $760 million
in its Toledo, Ohio, propulsion-manufacturing operations to prepare
the facility for production of drive units that would be used in
future Ultium-based battery electric trucks.
The auto maker said the Toledo Propulsion Systems facility would
be its first U.S. powertrain or propulsion-related manufacturing
facility transformed for EV-related production.
Including Friday's news, GM has invested more than $1.9 billion
at Toledo since 2011. Renovation work at Toledo Propulsion Systems
is expected to begin this month.
Once the plant is converted, it would produce GM's family of EV
drive units, which convert electric power from the battery pack to
mechanical motion at the wheels. GM's EV drive units would cover
front-wheel drive, rear-wheel drive and all-wheel drive propulsion
combinations, including high-performance and off-road
capabilities.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
September 23, 2022 13:19 ET (17:19 GMT)
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