GM to Spend $2 Billion to Upgrade 17 U.S. Plants

General Motors said Tuesday it will pump $2 billion into 17 U.S. assembly plants in eight states as it ramps up production to boost market share, Bloomberg reported.

The No. 1 U.S. automaker unveiled its plans Tuesday at a transmission plant in Toledo, Ohio, where it will spend $205 million to keep or add 250 jobs at the Toledo facility, Bloomberg reported.

GM said the rest of its investment, which will create or save 4,000 jobs at 16 other plants, depends on completing local tax deals and should be announced in coming months.

The move comes almost two years after GM filed for Chapter 11 in June 2009, and marks a startling turnaround for the Detroit-based automaker, Bloomberg said.

GM’s U.S. market share has jumped to 19.6% through April from 18.7% in the same period a year earlier, according to Autodata Corp., Bloomberg reported.