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Back|General Motors plans to invest CAD 1.1 billion in Canada
General Motors plans to invest CAD 1.1 billion in Canada
NEWS
Handelsblatt·1 hour ago·Business·1 min read·🇩🇪Germany·

General Motors plans to invest CAD 1.1 billion in Canada

US car manufacturer wants to invest millions in the Canadian automotive sector despite the threat of US tariffs.

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According to a union agreement, General Motors wants to invest 1.1 billion Canadian dollars in Canada's automotive sector despite the threat of US tariffs.

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Canadian auto industry struggles with US tariffs and stalled trade negotiations.

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Berlin. US automaker General Motors plans to invest 1.1 billion Canadian dollars (791.31 million US dollars) in the Canadian automotive sector, according to a preliminary agreement with the union Unifor. This emerges from a negotiating report published by the union on Saturday.

Part of the money will go towards assembling a heavy pickup truck at a factory in Ontario. The investment comes at a time when Canada's automotive industry is struggling with U.S. tariffs of 25 percent. US President Donald Trump has also threatened to double this to 50 percent on January 1, 2027.

The agreement still needs to be approved by the roughly 4,600 union members who will vote on it on Saturday and Sunday.

According to the report, GM plans to invest 144 million Canadian dollars to produce the next generation of the GMC Sierra heavy-duty pickup truck at a plant in Oshawa. The company also promised not to sell or close a second assembly plant in Ingersoll, Ontario, for the time being.

The fate of Canadian auto plants has become a central issue in the stalled trade negotiations between the United States and Canada. The government in Ottawa has said it cannot agree to a trade deal with the United States that does not ensure the survival of a strong Canadian automotive and parts industry.

What to Watch

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  • Union members vote on agreement

    Very likely · Within days

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  • ?How do union members vote?
  • ?Will US tariffs actually increase?

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This article was originally published by Handelsblatt.

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According to a union agreement, General Motors wants to invest 1.1 billion Canadian dollars in Canada's automotive sector despite the threat of US tariffs.

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Handelsblatt
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Published
1 hour ago

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