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Chrysler to build car-based SUV, sell some assets

08.13.08, 12:11 PM ET



TRAVERSE CITY, Mich. (Reuters) - Chrysler LLC is planning a new car-based SUV that will hit showrooms in 2010, and has identified over $1 billion in non-earning assets it will sell to raise cash.

Chrysler plans to invest about $1.8 billion over the next two years to retool and expand its Jefferson North assembly plant in Detroit that currently builds the Jeep Grand Cherokee, a truck-based SUV.

The new SUV will retain the Grand Cherokee name, President Tom LaSorda said Wednesday on the sidelines of an industry event in this resort town.


Article: Chrysler to build car-based SUV, sell some assets - Forbes.com
 
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