It would also invest $109 million for engine and transmission production at its St. Catharines, Ont. plant and $500,000 for its Woodstock, Ont. distribution centre.
GM also will invest in its St. Catherine's propulsion plant and the Woodstock parts operation.
Dias offered a slightly higher estimate than GM for the number of jobs that will be created at the plant, pegging it at somewhere between 2,000 and 2,500.
Unifor, the union representing General Motors Co. employees in Canada, agreed to a contract extension rather than go on strike, helping the two sides forge a new tentative agreement in the wee hours of Thursday morning.
Unifor had set a midnight deadline on Wednesday to reach a new, three-year labour deal with GM and had a mandate to strike from its members if the deadline passed.
General Motors unveils its first election Hummer.
The company has not specified which pickup trucks will be manufactured in Oshawa, but Flavio Volpe, president of the Auto Parts Manufacturers Association, says he suspects they will be moving some of the Silverado and Sierra work there.
COVID-19 Numbers as of 3 pm November 5
Cuomo also said NY is doing "extraordinary well" compared to the rest of the country and is only trailing Vermont and Maine. A number of states are still reporting record high case numbers, and hospitalizations are up as well.
Production is expected to begin in January 2022, GM said.
"We will be a complete assembly operations once again", says Dias.
The last time GM Canada's Oshawa plant was making vehicles, it was producing 2019 full-size trucks to keep dealers stocked.
The statement pointed to the government's "ten-year Driving Prosperity plan" but did not specify any commitments to the GM deal.
One of many sticking points in the overnight talks was the future of the Oshawa plant, Dias said, since revamping the plant for electric vehicle production would take several years, and the union did not want to see the plant sit vacant.
GM was the third of the domestic three brands to reach an agreement with Unifor.
The Detroit automaker did not immediately provide a statement on the agreement.