Bruce Nunnally Posted April 21, 2010 Report Share Posted April 21, 2010 GM to pump $120M into local factory Detroit-Hamtramck plant to build Malibu, along with Volt David Shepardson / Detroit News Washington Bureau General Motors Co. will announce today that it will invest about $120 million in its Detroit-Hamtramck plant, where the automaker will assemble the 2012 Chevrolet Malibu. The additional investment will bring to nearly $500 million the amount that GM has committed to the factory, known locally as the Poletown plant. In a separate major milestone, The Detroit News learned from two people with direct knowledge of the payment that GM wired $5.4 billion to the Treasury Department on Tuesday afternoon -- repaying its outstanding government loans and $700 million in interest. GM also repaid the Canadian and Ontario governments for its remaining $1.1 billion loan, plus unspecified interest. From The Detroit News: http://detnews.com/article/20100421/AUTO01/4210367/GM-to-pump-$120M-into-local-factory#ixzz0ljcNDzDw Quote Bruce 2016 Cadillac ATS-V gray/black Follow me on: Twitter Instagram Youtube Link to comment Share on other sites More sharing options...
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