GM Defense Canada Receives Contract Award from Canadian Armed Forces for Modern Light Tactical Vehicles

Rhea-AI Summary

GM Defense Canada, a subsidiary of GM Defense, has been awarded a C$35.8 million contract by the Canadian Armed Forces (CAF) for 90 light tactical vehicles (LTVs), with an option for 18 more. The contract includes training, technical manuals, and additional vehicle content from Canadian companies. The LTVs, based on the Chevrolet Colorado ZR2 architecture, will support NATO's Enhanced Forward Presence Multinational Battlegroup in Latvia.

The vehicles, weighing under 5000 pounds, offer enhanced off-road capability, air transportability, and easy maintenance. GM Defense Canada anticipates delivering the first vehicles five weeks after the contract award. This contract is seen as the beginning of a long-term partnership with the CAF, leveraging General Motors' resources to provide tactical mobility for soldiers.

Positive

• Secured C$35.8 million contract with Canadian Armed Forces
• Option for additional 18 LTVs beyond initial 90 vehicles
• Rapid delivery timeline of first vehicles within 5 weeks
• Potential for long-term partnership with Canadian Armed Forces
• Leveraging existing GM resources and supply chain for efficiency

Negative

• None.

News Market Reaction

-6.42%

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-6.42% News Effect

On the day this news was published, GM declined 6.42%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

GM Defense Canada Anticipates Delivery of First Vehicles Five Weeks After Contract Award

OSHAWA, ON, July 23, 2024 /PRNewswire/ -- GM Defense Canada, a subsidiary of GM Defense, has been awarded a C$35.8 million contract by the Canadian Armed Forces (CAF) for 90 light tactical vehicles (LTVs), with an option to procure up to an additional 18 LTVs. GM Defense Canada will also deliver training, technical manuals and additional vehicle content sourced from Canadian companies.

As part of the contract, GM Defense Canada is providing both nine-passenger LTVs and a new utility variant of the LTVs that leverage the design of a proven solution currently fielded with the U.S. Army. GM Defense Canada's LTVs will support the NATO Enhanced Forward Presence Multinational Battlegroup in Latvia. The vehicles will enable Soldiers to move with increased speed, range and safety across complex terrain.

"We are providing this critical capability to the Canadian Armed Forces within a timeline that meets their urgent operational requirement," said Steve duMont, president of GM Defense. "We see this contract award as the beginning of a long strategic partnership with the Canadian Armed Forces to provide enhanced tactical mobility for Soldiers today, and into the future. As we further expand into Canada and with other allied nations around the world, we will continue to leverage the vast resources of General Motors to ensure our global defense and government customers have the best capability to accomplish their mission."

"General Motors' support of the Canadian Armed Forces with this contract is a prime example of the meaningful contributions GM makes in Canada," said Kristian Aquilina, president and managing director of GM Canada. "Whether it's the supply of light tactical vehicles through GM Defense Canada, or the contributions of our Canadian Technical Centre in supporting the development of those vehicles, we are pleased GM can also make an impact in the defense space."

GM Defense Canada's light tactical vehicle solutions are based on the mid-size architecture of the Chevrolet Colorado ZR2, featuring a high percentage of Commercial-Off-The-Shelf (COTS) parts, including Chevrolet Performance components for enhanced off-road capability. Weighing less than 5000 pounds / 2232 kilograms, the light and agile tactical vehicles offer air transportability, in addition to ease of maintenance and sustainment with parts that may be accessed through GM's global supply chain. Reliable and easy to operate, the light tactical vehicles also include active and passive safety features, meeting CAF requirements for performance and safety.

For more information, please visit www.gmdefensellc.com or follow us on LinkedIn.

About GM Defense LLC
GM Defense delivers integrated vehicles, power and propulsion, and autonomy and connectivity solutions to global defense, security and government markets. The exceptional reliability of GM Defense's technologies results from decades of proven performance and billions of dollars spent in independent research and development by its parent, General Motors, a world leader in global design, engineering and manufacturing capabilities. For more information, please visit www.gmdefensellc.com.

 

 

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SOURCE GM Defense LLC

FAQ

What is the value of GM Defense Canada's contract with the Canadian Armed Forces for LTVs?

GM Defense Canada has been awarded a C$35.8 million contract by the Canadian Armed Forces for 90 light tactical vehicles (LTVs), with an option for up to 18 additional vehicles.

How many light tactical vehicles (LTVs) will GM Defense Canada supply to the Canadian Armed Forces?

GM Defense Canada will supply 90 light tactical vehicles (LTVs) to the Canadian Armed Forces, with an option for up to 18 additional vehicles.

When does GM Defense Canada expect to deliver the first LTVs to the Canadian Armed Forces?

GM Defense Canada anticipates delivering the first vehicles five weeks after the contract award.

What is the base model for GM Defense Canada's light tactical vehicles (LTVs)?

GM Defense Canada's light tactical vehicles are based on the mid-size architecture of the Chevrolet Colorado ZR2.

Where will the GM Defense Canada LTVs be deployed?

The LTVs will support the NATO Enhanced Forward Presence Multinational Battlegroup in Latvia.