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GM to Build New Small Car in Michigan

Stock quotes in this article: GMGMQ  

Updated with comments from GM North America president.

To no one's surprise, General Motors(GMGMQ Quote) says it will manufacture a future small car in Michigan.

The automaker said it will use its assembly plant in Orion Township and its stamping facility in Pontiac, Mich., to build the car, restoring 1,400 jobs -- 1,200 in Orion and 200 in Pontiac. GM would invest $600 million to $800 million to upgrade the Orion plant.

The decision assumes a successful outcome to economic incentive negotiations between GM and state and local government officials, GM said. ...

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