GM to invest $545 million in five Michigan plants

General Motors today announced it is investing more than $545 million in five of its key Michigan-based manufacturing plants.

The specific facility investments are:

• $163 million to retool its Pontiac truck plant for production of the next generation Chevrolet Silverado and GMC Sierra full-size trucks late this year
• $32 million in its Pontiac metal stamping plant for sheet hydroforming equipment used to stamp much of the sheet metal for the Pontiac Solstice, Saturn Sky, and the future Opel roadster
• $138 million for its Lansing Grand River assembly plant to expand the body shop by more than 120,000 sq. ft. for future vehicle production
• $152 million for its Ypsilanti Transmission plant to increase production capacity of GM's new rear-wheel drive six-speed transmission
• $60 million for the Romulus Engine plant for various future engine upgrades

These investments will help the company retain current jobs at the five facilities, while creating more than 280 new jobs at the Pontiac truck assembly plant. The company does not anticipate the need for any new hires.