Canadian union Unifor on Tuesday said it had reached an agreement with Detroit automaker Ford that would avert a strike after talks passed a crucial deadline.

The details of the settlement were being withheld pending a ratification meeting set for Sunday, but Jerry Dias, president of the union which represents 6,200 workers, said the agreement includes wage gains and a commitment by Ford valued at 1.8 billion Canadian dollars ($1.4 billion) to build a new line of electric vehicles at the automaker's assembly plant in Oakville, Ontario.

The promise was a key part of the agreement, Dias said during a press conference held via the union's Facebook page.

The union had picked Ford as the first of Detroit's "Big Three" for negotiations, viewing the Oakville plant as vulnerable to closure.

Ford had no immediate comment on the settlement, which came 11 hours after the original strike deadline imposed by the union.

The deadline had been extended by the union late Monday as the negotiators closed in on an deal.