Talk about muscle car, General Motors is putting more muscle into making Corvettes. Wednesday, GM said that they will invest $131 million at the south-central Kentucky assembly plant that produces the classic muscle car. GM also will add about 250 jobs.
With this investment GM can produce the next-generation Corvette at the Bowling Green plant. GM will continue to assemble the Corvette for the next two model years, including the 2012 version, according to a source.
The investment in Kentucky is part of $3.4 billion made by GM in the US since mid-2009 to keep or create about 9,500 American jobs, said Mark Reuss, GM's North America president. Caldwell also said that the Corvette plant produced about 15,000 of the cars last year. Corvettes start at $50,000.
Now, nearly 400 production workers now assemble Corvettes at the factory. This year, GM emerged from a 2009 bankruptcy after a government bailout. Its overall U.S. sales rose 26 percent in April.
GM's Corvette announcement comes several months after Ford Motor Co. said it would shut down a Louisville assembly plant for a $600 million renovation that will allow it to build the Escape, a small SUV that's selling well. Stay tuned for further information about GM’s Corvette muscle car.