Mexican President Felipe Calderon(R), seen here at the wheel of a new Fiat 500 in Toluca, Mexico, announced Chrysler Group LLC will invest 550 million dollars in Mexico to produce Fiat 500s for the United States and Latin America,
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Chrysler Group LLC will invest 550 million dollars in Mexico to produce Fiat 500s for the United States and Latin America, Mexican President Felipe Calderon said Monday.
The investment would generate 400 direct jobs and more than 1,200 indirect jobs, Calderon said at a launch ceremony at the Chrysler plant in Toluca, some 70 kilometers (40 miles) west of Mexico City.
The vehicles would be produced at Toluca, one of five Chrysler plants in Mexico, and would start distribution at year end to the United States and Latin America, Fiat chief executive officer Sergio Marchionne told AFP.
Mexico "has an ideal position as a bridge between NAFTA (the North American Free Trade Agreement between Mexico, the United States and Canada) and Latin America," Marchionne said.
