GM plans $560M investment in Cami plant in Ingersoll

General Motors says it's spending $560 million so its CAMI assembly plant in Ingersoll will be ready to build the next generation Chevy Equinox.

The automaker says $190million will be spent on equipment and tools at the southern Ontario plant while $370million will go to vendor tooling with Canadian suppliers.

Economic Development Minister Brad Duguid says today's announcement shows GM's confidence in Ontario as a world leader in auto manufacturing.

"We are pleased to see General Motors securing its future in Southern Ontario,"federal industry minister James Moore added. "This investment proves that Canada [is] one of the best places in the world to build cars."

The plant employs about 3,000 people and currently produces the Equinox and the GMC Terrain, but production of the Terrain is expected to move to Mexico next year.