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GM to invest $1.5B in North American factories

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GM $29.49 +$0.18

at close on THURSDAY

By The Associated Press
Friday, Jan. 18, 2013, 12:01 a.m.

General Motors says it will invest $1.5 billion in its North American factories this year.

North American President Mark Reuss announced the figure in a speech but gave no details. The company says specific plants and job numbers will be released later.

GM is revamping 70 percent of its models as it switches from the oldest lineup in the industry to the newest.

Reuss says the investment is in addition to the $10.2 billion GM has spent on its factories since July 2009. The company has added about 2,000 jobs since then.

GM recently introduced new full-size pickup trucks, a completely redone Chevrolet Corvette and a Cadillac luxury version of the Chevrolet Volt plug-in electric car. It says more announcements will be made.

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