GM to invest additional $68M in Ontario plant
DETROIT—General Motors Co. said Friday that it will invest an additional $68 million to prepare a Canadian assembly plant to build the new version of the Chevrolet Impala.
The move will retain about 350 jobs at the Oshawa, Ontario plant, GM said.
The investment is on top of the $117 million the Detroit-based automaker previously said it would spend to help launch production of the Cadillac XTS at the plant in 2012. That investment is expected to retain about 750 jobs, GM said.
In order to meet customer demand and maximize the flexibility of GM's manufacturing operations, the Impala will be built at both GM's Oshawa and the Detroit-Hamtramck assembly plants.
Over the past year, the Oshawa plant has launched production of the Buick Regal, Chevrolet Camaro Convertible and Chevrolet Equinox, adding two shifts and securing 1,300 jobs.
The plant employs more than 4,400 people, who build the Chevrolet Camaro and current version of the Impala, GM said.
In afternoon trading, GM shares rose 15 cents to $20.25.