DETROIT Jan 16 General Motors Co will
invest $1.5 billion in its North American plants this year, a
senior executive said on Wednesday.
North American chief Mark Reuss did not provide details of
the plan in an advance copy of a speech given to Reuters, but it
is a continuation of the U.S. automaker's investment in its home
market since its 2009 bankruptcy and $50 billion U.S.
His comments were scheduled to be made on Wednesday night at
the Automotive News World Congress in downtown Detroit.
The investment is part of the $8 billion the Detroit
automaker has said it will annually put into in its worldwide
operations. GM has said it will refresh 70 percent of its U.S.
vehicle lineup in 2012 and 2013.
"Our recent track record proves that this kind of continuous
investment in the product pays off," Reuss said in a copy of the
From July 2009 through last year, GM invested more than
$10.2 billion in its North American factories, creating or
retaining more than 26,500 jobs.
Reuss also said the electric car is not dead. GM introduced
the Cadillac ELR plug-in hybrid, the upscale sibling of the
Chevrolet Volt, at the Detroit auto show on Tuesday.
"We're talking about a transformation here," he said in the
text of the speech. "And transformation takes time. It takes a
long time to change an industry, to change habits, and to change
a way of life.
"We'll get there," he said. "We will see the day when we
have an affordable electric car that offers 300 miles of range
with all the comfort and utility of a conventional vehicle."