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Chrysler to invest $570 million in Mexico engine plant
7:27 a.m. June 1, 2007
MEXICO CITY – Auto maker Chrysler Group, which is being sold by parent DaimlerChrysler AG , plans to invest $570 million in a new engine plant in the northern Mexican city of Saltillo, the company said on Friday.
Production will begin in 2009 on a new family of Chrysler V-6 engines known as Phoenix engines.
This is the second V-6 plant to be announced by the company and once operating will employ 485 workers. The other engine plant will be located in Trenton, Michigan.
Chrysler's Saltillo plant is part of a wider $3 billion recovery and transformation plan, the company said.