PONTIAC, MI-Auto giant General Motors Corp. is investing more than $545 million in five of its key Michigan-based manufacturing plants, company execs announced Tuesday. Specifically, GM will spend $163 million to retool its Pontiac truck plant; $152 million for its Ypsilanti Transmission plant to increase production capacity of GM's new rear-wheel drive six-speed transmission; $138 million for its Lansing Grand River assembly plant to expand the body shop by more than 120,000 sf for future vehicle production; $60 million for the Romulus Engine plant for various future engine upgrades; and $32 million in its Pontiac metal stamping plant for sheet hydroforming equipment.

"GM's investments demonstrate our commitment to continuously improve our products," Joe Spielman, vice president and general manager of GM North America Manufacturing, said in a statement. "They also show our dedication to strengthening our Michigan manufacturing operations."

According to a company document, the five-plant investment will help GM retain current jobs at the five facilities, while creating nearly 300 new jobs at the Pontiac truck assembly plant.

Despite GM's optimistic pledge, the company's investment news comes on the heels of its less than promising November announcement. At that time, company execs unveiled GM's comprehensive four-point plan to boost profitability, which included the shuttering of closing nine assembly, stamping and powertrain facilities and three service and parts operations facilities.