|Published:||Apr 21, 2010 1:19 PM EDT|
|Updated:||Apr 21, 2010 1:19 PM EDT|
KANSAS CITY, Kan. (AP) - General Motors Co. is preparing major
investments at its plants in Detroit and Kansas City, Kan. - the
latest signal of a potential turnaround for the automaker.
Wednesday's expected announcement by CEO Ed Whitacre at the
company's Fairfax Assembly Plant in Kansas City comes a day after
the company confirmed it has repaid the $8.1 billion in loans it
received from the U.S. and Canadian governments.
The loan payback to the U.S. government comes five years ahead
of schedule, and Whitacre said it is a sign GM is on its way toward
reducing government ownership of the company.
Whitacre is expected to say that GM will invest $257 million in
Fairfax and a factory in Detroit that will build new versions of
its popular midsize Malibu sedan.