It's in addition to $439 million in upgrades the company announced in May 2015 for the plant, where GM builds the Chevrolet Corvette. The said upgrades would be implemented in summer this year. This investment is an addition to the $439 million investment announced a year ago and in addition to showing commitment to the Corvette, this pair of massive investments shows commitment to the Kentucky work force.
Around $153 million of the total investment amount will be used to fund the company's participation in the Kentucky Business Incentive.
The investment announcement was made by Governor Matt Bevin's office in Frankfort. For 35 years, the Bowling Green Assembly Plant has provided jobs to thousands of Kentuckians and to hundreds of suppliers and vendors.
In other news just yesterday, General Motors announced that it will be working together with the Office of Naval Research along with the US Naval Research Laboratory towards the incorporation of automotive hydrogen fuel cell systems in the next line of the Navy's unmanned underwater vehicles.
The newest planned investment of $290 million in the Corvette facility will "upgrade and modify the plant's vehicle assembly operations with new technologies and processes". This new Corvette is expected to move to a mid-engine platform and be built in both left- and right-hand-drive configurations, helping GM to expand sales around the globe for the first time.
Corvette production began in Bowling Green in 1981. "This investment will give UAW members the tools of a world-class production facility to continue to craft one of the world's most iconic automobiles".