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GM Said to Plan Multibillion-Dollar Spending in North America

General Motors Co. plans to announce on Thursday that it will invest several billion dollars on its North American manufacturing plants over multiple years, a person familiar with the matter said.

The spending will be to upgrade factories and get them ready to produce several future models and will not include breaking ground on new plants, said the person, who asked not to be named because discussions are private. The investment will secure future vehicles and jobs at the facilities, the person said.