General Motors and Ventec Life Systems said Friday they have agreed to build critical-care ventilators at one of the automaker's components plants in Indiana.

The deal, which includes FDA-cleared ventilators shipping as soon as next month, was announced shortly after President Donald Trump criticized the automaker and CEO Mary Barra for not moving quickly enough to produce life-saving ventilators wanting "top dollar" for doing so.

Trump suggested he would invoke the Defense Production Act to force the companies to produce needed equipment like ventilators.

Trump tweet

GM and Washington-based Ventec said officials are "working around the clock to meet the urgent need for more ventilators," citing efforts to begin production at the Kokomo plant "already underway." GM, according to a release, is donating its resources at cost.

The tie-up between the companies could be a precursor for a deal with the U.S. government to produce ventilators. GM is "in the blocks, ready to start" production of ventilators but is awaiting regulatory approval, sources told CNBC's Scott Wapner. A deal, according to the sources, could be announced as soon as Friday.

Earlier Friday, The New York Times reported that GM and Ventec Life Systems, with which it is partnering to build such supplies, wanted more than $1 billion, including hundreds of millions upfront to GM to retool a car parts plant in Kokomo to make the ventilators.