Detroit automaker General Motors (GM) has announced plans to invest $63 million U.S. in its Oshawa, Ontario assembly plant.
The investment is being made to upgrade the stamping operations at the Oshawa facility. Stamping is a manufacturing process that cuts, bends, and shapes metal sheets into parts.
News of the investment comes a month after GM canceled a third shift at the Canadian plant at the end of January, resulting in 500 direct layoffs and hundreds of other positions at suppliers.
Despite cutting the third shift at the Oshawa plant, GM says it plans to build gas-powered full-sized pick-up trucks at the assembly plant moving forward.
Oshawa remains General Motors’ only vehicle assembly plant in Canada after it closed its electric delivery van plant in Ingersoll, Ontario last year.
GM still produces vehicle engines at a plant in St. Catharines, Ontario.
General Motors downsizing in Canada comes after U.S. President Donald Trump ended government support for electric vehicles and imposed tariffs on Canadian-made autos.
In a news release, General Motors said that it has invested $1.5 billion U.S. in the Oshawa facility since 2020.
GM stock has risen 75% in the past 12 months to trade at $83.67 U.S. per share.
