GM to invest $328 million to upgrade Flint, Michigan factory

Battling back from insolvency in only a few short years, General Motors (GM) has reemerged as a dominant global player in the automaking industry. According to a published report, the company plans to continue investing into upgrades at factories throughout the world, including some in the U.S.

The Associated Press reports that the Michigan-based carmaker announced this week that it will spend more than $328 million to update a factory in Flint, Michigan. That city was once a hotbed of the automaking sector in the U.S., but following the subsequent rise of foreign automakers, factories were shuttered and the unemployment rate soared.

According to the news provider, the new GM factory will build the company's pickup trucks, which have perennially been a hot seller. However, during the company's quick rise to prominence over the past few years it's actually been its smaller sized cars that have helped give a jolt to earnings as consumers fear high oil prices and have largely shunned gas-guzzling car models.

GM's investment will create or preserve 150 jobs at the site, according to the company. The factory currently employs 2,047 people.