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

The General Motors logo is seen outside its headquarters at the Renaissance Center in Detroit, Michigan in this file photograph taken August
The General Motors logo is seen outside its headquarters at the Renaissance Center in Detroit, Michigan in this file photograph taken August

(Reuters) - General Motors Co 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)

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