GM to invest $332 million in four sites to build fuel-efficient engines

Thu Apr 4, 2013 7:25am EDT
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(Reuters) - General Motors Co (GM.N: Quote) said it will invest about $332 million in four manufacturing sites to produce more fuel-efficient engines and transmission systems.

So far this year, the carmaker has announced $1.2 billion in investments in its North American plants. GM has said it would invest $1.5 billion in those plants this year.

The investments will boost production of a new Ecotec small gas engine, a new V6 engine, eight-speed transmission and tooling for an existing six-speed transmission.

The carmarker is also raising its powertrain investment in two Michigan plants by $46 million to support production of the new V6 engine.

Shares of the Detroit-based company closed at $27.80 on Wednesday on the New York Stock Exchange.

(Reporting by Jochelle Mendonca in Bangalore; Editing by Joyjeet Das)

The General Motors logo is seen outside its headquarters at the Renaissance Center in Detroit, Michigan in this file photograph taken August 25, 2009. REUTERS/Jeff Kowalsky/Files