TOLEDO, Ohio/WASHINGTON—General Motors Co. said on Friday it will invest $760 million at its Toledo, Ohio factory to build drive units for electric trucks, the automaker’s first U.S. powertrain facility repurposed for EV-related production.
Th largest U.S. automaker currently builds GM’s six-speed, eight-speed, and 10-speed rear-wheel drive and nine-speed front-wheel drive transmissions in a variety of Chevrolet, Buick, GMC, and Cadillac at its 2.82-million square foot Toledo, Ohio, transmission plan that it has renamed Toledo Propulsion Systems.
Congress in August approved significant financial incentives for automakers to convert plants producing parts for gasoline-pore vehicles to electric models….