GM to unveil new electric car, investing $300 mill

General Motors Co. said Friday it will invest $300 million in one of its Michigan assembly plants to produce a new Chevrolet electric vehicle, bringing 400 new jobs to the plant. The announcement is part of GM's plan to invest $1.8 billion in its U.S. manufacturing operations, creating 700 new jobs and supporting 28,000 jobs in six states, it said. The new EV would be in addition to the Chevy Bolt, "further advancing GM's commitment to an all-electric future," the company said. "It will be designed and engineered off an advanced version of the current award-winning Bolt EV architecture. Additional product information and timing for the new Chevrolet EV will be released closer to production," the company said. Shares of GM fell 2% on Friday and are up 0.7% in the past 12 months, compared gains of 7% for the S&P 500 index.

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