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General Motors to invest $1.5bn in US

International

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 Wednesday night but gave no details. The company says specific plants and job numbers will come later.

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GM is revamping 70 percent of its US 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 already has spent on its factories since July of 2009. The company has added about 2,000 US jobs since then.

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. It says more announcements are coming. - Sapa-AP

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