OSHAWA—General Motors is investing $68 million at its Oshawa plant to build its newest Chevy Impala sedan—a move that will save 350 jobs as the automaker streamlines its Canadian operations.

The new vehicle will be done at a so-called flex assembly line, a line wher the Detroit-based automaker has shifted more of its car production in recent years.

The plant, which runs traditonal and flexible assembly lines, employs more than 4,400 people and has undergone many changes this past year, recently launching the Buick Regal, Chevrolet Camaro Convertible and Chevrolet Equinox.

“We are building on the recent capacity increases, product launches and shift additions at our Canadian operations to affirm that Canada will play an important role in the new GM as we continue to transform our product lineup,” said Kevin Williams, managing director of General Motors of Canada.

The announcement follows a decision by GM earlier this year to build the new Cadillac XTS at the Oshawa plant. That decision created or saved 400 jobs on the flexible assembly line.

The new Impala will be produced at the flex plant, which employs 2,000 people and currently makes the Chevy Camaro, Buick Regal and soon, the Cadillac XTS.

The Impala will also be built at GMs Detroit-Hamtramck assembly plant in Michigan.

Federal Finance Minister Jim Flaherty said it has become clear that helping the company with billions of dollars in aid was the right decision.

“Our support has helped preserve Canadas place in the automotive industry,” Flaherty said in a statement. “It has helped protect jobs in communities across Canada in automotive assembly and automotive parts production.”