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 |  May 04 2011, 7:47 AM

GM is expected to announced a major investment in its Bowling Green, Ky., Corvette Factory later today as it makes plans for the next generation of American’s iconic sports car.

At a planned press conference at the plant, GM North America boss Mark Reuss will lay out details of a $100 million upgrade for the facility in preparation for the next-generation Corvette. Called the C7, this seventh-gen car is expected to be somewhat of a stop-gap model and has been rumored to have a relatively short product life with the C8 believed to be a more dramatic change – possibly moving away from the front-engine, rear-drive layout.

Recently Chevrolet announced a list of upgrades for the 2012 model to help keep the car competitive. Sales have been lagging as of late, but did spike in April, climbing 15 percent over a year before.

[Source: WSJ]