Like the GMC Syclone, the Typhoon is powered by a 4.3 L LB4V6 engine producing 280 hp (209 kW) at 4,400 rpm and 360 lb·ft (488 N·m) of torque at 3,600 rpm. The engine is a modified version of the Vortec engine found in the standard Jimmy, which originally produced 190 hp. The engine uses a Mitsubishi TD06-17C/8 cm2turbocharger producing 14 psi of boost and a Garrett Water/Air intercooler, as well as revised intake manifolds, fuel system, exhaust manifolds, and a 48 mm (2 in) twin-bore throttle body from the 5.7 L GM Small-Block engine. The Typhoon sends power to all four wheels through a 4L60 4-speed automatic transmission and a BorgWarner 4472 (the Syclone used a BorgWarner 1372) transfer case splitting torque with 35% forward and 65% to the rear wheels. Other features include upgraded brakes, a limited slip rear differential and sport modifications to the standard suspensions. Unlike the Syclone, the Typhoon featured an air-operated self-leveling rear suspension.
All three model years were built for GMC by Production Automotive Services of Troy, Michigan. Aside from a handful of prototypes, only 4,697 Typhoons were built by GMC: 2,497 for 1992, and 2,200 for 1993. Unlike regular production Syclones, Typhoons were offered in various color configurations that differed by year, with black/black being the most common.