GM will invest $7 billion to build four plants and create 4,000 jobs

The U.S. Stock Research Agency has learned that General Motors (GM. N) will invest $7 billion in Michigan to build four manufacturing plants, making the state a "hub" for electric vehicle research and development and manufacturing, and GM said Tuesday it would spend $2.6 billion to build a new battery factory in the Lansing area of Michigan and spend $4 billion to convert its existing plant in Orion Township into an electric pickup factory. The company will also spend about $500 million to upgrade its two existing auto assembly plants in Lansing. GM called it "the largest investment statement in GM's history" and said the move would create 4,000 jobs and keep another 1,000.