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Chrysler Investing $1.7 Billion in Toledo, OH, Plant to Build New Jeep SUV

11/18/2011
Chrysler Group LLC has announced it will invest $1.7 billion to build its next-generation Jeep SUV at an assembly plant in Toledo, Ohio. A second shift of production will be added "which means about 1,100 jobs," said Sergio Marchionne, CEO of Fiat SpA (which has owned a controlling interest in Chrysler since June 2011). "This plant has been chosen to build the future Jeep SUV.that will be exported to markets all over the world." It's anticipated that the jobs will be created by fall 2013.

"This is a big decision," said Gov. John Kasich. "It is a big investment. This means they are going to stick $1 billion in their operations and a half a billion into Toledo."

Marchionne confirmed Chrysler will spend $500 million at the Toledo facility. The rest of the monies will finance supplier tooling and related development costs.at other Chrysler plants, he said.

Recently Chrysler's United Auto Workers hourly workers ratified a new four-year labor contract in which the Auburn Hills, MI, automaker promised to invest $4.5 billion and generate 2,100 jobs over the next four years. Marchionne pointed out that with this announcement, "We are taking a big step toward fulfilling that promise."

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