GM invests C $ 1 billion in Canadian plant to manufacture electric vans

(Reuters) – General Motors Co and union Unifor announced on Friday that they had reached an agreement in principle for the automaker to invest nearly C $ 1 billion ($ 785.42 million) in its CAMI assembly plant in Ingersoll, in Ontario, to manufacture commercial electric vans.

As part of the tentative deal, which has yet to be ratified by unionized workers, GM has agreed to begin full-scale commercial production of EV600, an electric van, at its CAMI plant, Unifor said. in a press release.

The Detroit automaker said in a separate statement that work will begin immediately at the plant.

The new agreement builds on recent investments by GM in Canada, which in November agreed to invest C $ 1 billion in its Oshawa plant to increase production of its full-size pickup trucks.

The Canadian government hailed the deal and said it would confirm its support as soon as union members ratified it.

“We are awaiting the results of the ratification vote,” Canadian Minister of Foreign Affairs François-Philippe Champagne said in a statement.

Unifor, the union representing hourly workers in Canada, said more details of the deal would be presented to local union members at an online ratification meeting scheduled for Jan. 17, the results of which should be released someday. later.

($ 1 = 1.2732 Canadian dollars)