Chrysler invests $1.8 billion in Detroit plant

Chrysler is far from down and out as it invests $1.8 billion in Detroit.

Excerpt:

Chrysler LLC will invest $1.8 billion to retool and expand its Jefferson North Assembly Plant in Detroit and develop a new line of vehicles for the factory, including a car-based sport utility vehicle to be sold under the Jeep nameplate.

Chrysler Vice Chairman and President Tom LaSorda announced the plan Wednesday at the annual Management Briefing Seminars organized by the Center for Automotive Research. He said the plant will build at least 120,000 vehicles annually beginning in the spring of 2010.

The plan saves about 400 jobs and could eventually create new positions. It calls for developing at least two new models, the car-based SUV and the next-generation of the Jeep Grand Cherokee now built at Jefferson North.

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