Conditions for Setting the DTC

WARNING: This page is about a different car, the 2007 GMC Sierra and 2007 Chevrolet Silverado. However, it is still accessible from the selected car via links, so may be relevant.

DTC P0701 sets when the TCM detects the following conditions:

Transmission fluid temperature is greater than -25°C (-13°F).
All pressure switches do not indicate pressure at start-up.
Engine speed is greater than 500 RPM for 6 seconds or 400 RPM for 15 seconds.
Forward or REVERSE range is selected.