GM announces $500 million investment for small car

General Motors Corp said on Thursday it will invest more than $500 million in the US to build a new compact car that will compete in an era of high gasoline prices.

Company Chairman and CEO Rick Wagoner announced the size of the investment Thursday at the Lordstown factory near Cleveland. The sprawling complex now makes the Chevrolet Cobalt and Pontiac G5 small cars.

GM announced in June that the Lordstown factory would be retooled to make the new Chevrolet Cruze compact. Read more
Courtesy: indiacar.net

This entry was posted on Friday, August 22nd, 2008 at 9:44 am and is filed under General motors India. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.