GM Invests 1 Billion Canadian Dollars In Canadian Plant To Produce Electric Trucks

According to foreign media reports, the GM and Unifor union stated on January 15 that the two parties have reached a temporary agreement under which GM will invest nearly 1 billion Canadian dollars in its CAMI assembly plant in Ingersoll, Ontario ( About 78542 million US dollars), the production of commercial electric trucks. Unifor said in a statement that according to the provisional agreement, GM has agreed to start mass production of its commercial electric truck EV600 at the CAMI plant, and the agreement is currently pending approval by union workers. GM said in a separate statement that CAMI will immediately begin production of this electric commercial truck. This is unexpected news for this plant, which is currently producing GM's popular Equinox crossover model in two shifts. The terms of the contract stipulate that the production of Equinox will be gradually stopped in the next two years, thereby promoting the production of EV600. On January 16, Unifor President Jerry Dias told the media that CAMI will start a capacity ramp-up in November this year, and start "full production" of EV600 in February 2022. He said that the production of Equinox at CAMI will cease in 2023, and it is not clear where the production of Equinox will be transferred. Prior to this agreement, GM had recently begun investing in Canada. In November last year, GM agreed to invest 1 billion Canadian dollars in the Oshawa plant to expand its full-size pickup truck production scale. The Canadian government welcomed the agreement reached between the two parties and stated that once the union members approve the agreement, the government will confirm its support as soon as possible. Canadian Foreign Minister François-Philippe Champagne said in a statement: "We are awaiting the results of the approval vote."