March 31, 2023

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GM to Invest C$1 Billion in Canada Plant to Manufacture Electric Vans | Investing Information

(Reuters) – Normal Motors Co and labor union Unifor claimed on Friday they have arrived at a tentative deal for the automaker to make investments practically C$1 billion ($785.42 million) in its CAMI Assembly Plant in Ingersoll, Ontario, to manufacture commercial electric vans.

Underneath the tentative deal, which is nevertheless to be ratified by the union staff, GM has agreed to start out huge-scale industrial output of EV600, an electrical van, at its CAMI plant, Unifor explained in a statement.

The Detroit automaker said in a independent assertion that function would start immediately at the plant.

The new offer builds on recent investments by GM in Canada, which in November experienced agreed to devote C$1 billion in its Oshawa plant to develop creation of its total-size pickup trucks.

The Canadian govt welcomed the offer and said it would affirm its assistance as before long as the union customers ratified the deal.

“We await the outcomes of the ratification vote,” Canadian Overseas Affairs Minister François-Philippe Champagne claimed in a statement.

Unifor, the union representing hourly employees in Canada, said much more specifics of the deal would be presented to regional users of the union at an on the web ratification meeting scheduled for Jan. 17, the benefits of which are scheduled to be launched a day later.

($1 = 1.2732 Canadian dollars)

(Reporting by Bhargav Acharya in Bengaluru with added reporting by Steve Scherer in Ottawa Enhancing by Simon Cameron-Moore)

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