General Motors (GM) is investing $560 million to build the next generation Chevrolet Equinox at its CAMI assembly plant in Ingersoll, Ont.
According to the automaker, $190 million will be spent on manufacturing equipment at the plant, while $370 million will be utilized in vendor tooling with Canadian suppliers.
“These investments, which follow planning and study with our partners, are a further vote of confidence in our employees, our business and our future in Ontario and Canada,” said Steve Carlisle, president and managing director of General Motors of Canada.
The announcement was made at the Canadian International Auto Show on Thursday. The auto show, which is held in Toronto, opens to the public on Friday.
“General Motors understands the excellent opportunities available to automakers in Canada and is dedicated to keeping a strong presence in this country,” said Jerry Dias, national president at Unifor, which represents workers at the CAMI plant.
In 2013, GM invested $250 million in new equipment at the assembly plant, which employs about 3,000 workers.
The plant also produces the the Chevrolet Equinox and the GMC Terrain; however, production of the Terrain is expected to move to Mexico in 2016.
In early February, Ontario government sold its remaining shares in GM for around $1.1 billion.
With files from The Canadian Press