GM pays off its Treasury Department loans - Apr. 21, 2010NEW YORK (CNNMoney.com) -- General Motors on Tuesday made a final payment of $5.8 billion to the U.S. and Canadian governments, paying off the last of its $6.7 billion in loans, a GM spokeswoman said.
The automaker is expected to officially announce the repayment Wednesday at an event at the Fairfax, Kan., plant where it builds Chevrolet Malibu and Buick LaCrosse sedans.
GM will also announce two big investments for production of the next-generation Malibu: $136 million in the Fairfax facility and $121 million in its Detroit-Hamtramck plant.
The Hamtramck plant is where GM has already begun manufacturing the Chevrolet Volt electric car.
GM wired $4.7 billion wired to the U.S. Treasury Department, completing payment of GM's $6.7 billion in federal loans. The company also sent $1.1 billion on Tuesday to Canada.
Well. There yah go, they repaid it