Business

GM to invest $1.5B in N. American factories

DETROIT — General Motors will invest $1.5 billion in its North American factories this year, the automaker said.

North American president Mark Reuss revealed the figure in a speech Wednesday night but gave no details. The company said it will list the specific plants affected and job numbers later.

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

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

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GM recently unveiled new full-size pickup trucks, a completely redone Chevrolet Corvette, and a Cadillac luxury version of the Chevrolet Volt plug-in electric car.

Associated Press