GM to Add Heavy-Duty Sierra Production in Canada in $104M Deal With Unifor
GM sits 59% above its 52-week low of $54.33.
Summary
GM reached a tentative deal with Unifor to add next-generation heavy-duty GMC Sierra pickup assembly to its Oshawa, Ontario plant, investing C$144 million ($104 million). The agreement also pledges not to immediately sell or close the Ingersoll, Ontario assembly plant. This secures Canadian production capacity amid ongoing U.S. tariff threats on Canadian vehicles, which could rise to 50% in 2027. The deal covers 4,600 union members and is pending ratification this weekend. It follows a strong Q2 and a resolved supplier strike earlier this year, reinforcing GM's commitment to North American truck output.
At the time of this announcement, GM was trading at $86.27 on NYSE in the Manufacturing sector, with a market capitalization of approximately $75.7B. The 52-week trading range was $54.33 to $91.85. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.