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Friday, 06 May 2011 16:14

GM to Invest $131 Million at Kentucky Plant

General Motors Co announced that they will invest millions into revamping a Kentucky factory to produce a new version of the iconic Chevrolet Corvette sports car, the automaker said on May 4.

"It has a completely different look. Don't ask me how or what, but people will be really surprised, in a good way," GM's North American president Mark Reuss told Reuters.

GM would not say when the new Corvette would be introduced, but automotive insiders have speculated that it will make its debut in 2013.

The automaker will invest $131 million in the Bowling Green, Kentucky plant to retool the factory for production of the seventh generation of the Corvette.

The company also plans to hire an additional 250 employees along with the plants remodel.

Reuss told the plant's nearly 400 production line workers that GM has invested $3.4 billion and created 9,000 jobs at its U.S. plants since mid-2009, the year it went through a $52 billion U.S. government-sponsored bankruptcy.

GM said the current-generation Corvette, introduced in 2004, will be made in Kentucky for at least the next two model years.

The Bowling Green plant has made the Corvette since 1981.

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