GM to invest $500 million in new compact Published: Aug. 22, 2008 at 1:57 PM DETROIT, Aug. 22 (UPI) -- Auto giant General Motors Corp. is preparing to invest $500 million in a new compact car, slated for production in Lordstown, Ohio, the company said. The Chevy Cruz is one of the company's answers to consumer demand for fuel-efficient vehicles and will reportedly run 45 miles on a gallon of gasoline, The Detroit News reported Friday. The company plans to spend $150 million on development and $350 million on its Lordstown factory, the News reported. GM lost $15.5 billion in...