The investment will help GM produce new equipment and technology, including a simulator that allows engineers to test out how the Malibu handles on different road conditions. The plant, which produces the Chevy Malibu and Buick LaCrosse, was last upgraded in 2013 with a $600 million paint shop and press upgrade. Before that, GM spent $20 million on the Buick LaCrosse eAssist and related upgrades in 2011.

The last time GM invested heavily in the Malibu was in 2010, when it spent $136 million at its Fairfax plant. In 2007, GM spend $208 million for an all-new Chevrolet Malibu Drive" target="_blank">Malibu, and before that, it spend $722 million to get ready for the prior Malibu in 2003. Today, the Fairfax Assembly plant operates on three shifts and pumps out one vehicle every 58 seconds.

The 2016 Chevrolet Malibu, which goes into production later this year, is larger and more efficient than the outgoing version. It will be equipped with a base 1.5-liter turbo four with a six-speed automatic and a 37-mpg hwy rating, or a 2.0-liter turbo four with an eight-speed automatic. A Malibu Hybrid is also on its way, and it should achieve a fuel economy rating of over 45 mpg.

Source: General Motors