DETROIT – General Motors announced plans Monday to invest $632 million for production of its next-generation full-size pickup trucks at a plant in Indiana.
The investment is the automaker’s third such announcement in the past week involving GM’s next-generation large trucks and SUVs, which are based on the same vehicle architecture and share some internal parts. The investments announced in recent days total more than $2.1 billion.
GM said the investment in its Fort Wayne plant in Indiana will support new conveyors, tooling and equipment in the plant’s body and general assembly areas for production of the Chevrolet Silverado and GMC Sierra 1500 models.
The investment in Indiana is further confirmation that the company plans to continue to spend on its traditional operations to assist in funding its emerging electric vehicle business.
The company has said it plans to exclusively offer consumer EVs by 2035, including new all-electric versions of the Silverado later this year and Sierra Denali in early 2024.
The investment announcements come ahead of contract negotiations between the Detroit automakers, including GM, and the United Auto Workers union this summer.
This year’s negotiations are expected to be among the most contentious and important in recent memory, fueled by a yearslong organized labor movement across the country, a pro-union president and an industry in transition to all-electric vehicles.