American automaker General Motors.

[Financial Channel/Comprehensive Report] Foreign media reported that US automaker General Motors will invest US$760 million (about NT$24 billion) to rebuild its Toledo, Ohio, US plant. switch to electric vehicles.

According to comprehensive media reports, the Toledo plant will become GM's first engine or transmission plant in the United States suitable for electric vehicle-related production after the renovation.

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GM expects the rebuilding of the Toledo plant will help it reach its goal of producing 1 million electric vehicles a year by 2025.

However, GM's move to remodel the factory has sparked concerns among local unions that GM will lay off workers after the remodel.

The Toledo plant currently employs 1,500 workers, according to data.

GM's Toledo plant is currently used to produce high-horsepower Chevrolet, Buick, GMC and Cadillac gasoline-engine vehicles, as well as transmission parts.

Shares of General Motors closed at $35.48 on the 23rd, down 5.08%.

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