Chrysler CEO Sergio Marchionne announced yesterday that the company will invest $1.249 billion in two Saltillo facilities creating 1,570 jobs.
Of the total investment, $1.085 billion was invested in the construction of the new Van Assembly Plant to produce the Ram ProMaster commercial vehicle. The additional $164 million will add a new production line to assemble Tigershark engines at the Saltillo North Engine Plant.
Both the Ram ProMaster and the Tigershark engine will be exported to different markets, based on Free Trade Agreements that Mexico has with several countries.
“I want you to know how much I appreciate your hard work and your dedication to the principles of World Class Manufacturing, which is enabling us to compete with the very best plants in the world,” Marchionne told employees during a tour of the new plant.
With this announcement, employment in Saltillo will grow to nearly 6,500.
The Ram ProMaster assembled in the new plant will be sold in Mexico, U.S.A. and Canada. It is the only vehicle of its kind to be produced in Mexico and joins the full line of products offered by the Ram brand The ProMaster is based on the successful Fiat Ducato, which has earned an excellent reputation over three decades.
The 2.0-liter and 2.4-liter Tigershark engines will be assembled at the North Engine Plant alongside the company´s HEMI V-8 engines. The 2.4-liter has the advanced MultiAir system. The 2.4-liter engine powers the 2014 Jeep Cherokee and Dodge Dart. Production of the Tigershark engine line will begin in the first quarter 2014.
Currently, Chrysler Group's North and South Engine plants assemble a new engine every 17 seconds.