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Chrysler To Pump Money Into Ohio Plant

In an era when plant closings and cutbacks seem to be the norm, Chrysler has announced that it will pump $365 million into its Toledo, Ohio plant.

Chrysler Group CEO Sergio Marchionne is set to announce his plans for the Toledo Assembly complex. According to Detroit media reports, the automaker will invest $365-million to retain 900 jobs and to create up to several hundred other new jobs at its Toledo plant. The Toledo plant currently assembles the Dodge Nitro, Jeep Wrangler, and Jeep Liberty.

Chrysler has agreed to invest $4.5 billion and add 2,100 jobs in U.S. factories as part of a four-year labor agreement ratified by UAW members October 26, 2011. This seems to be the first sign of the company’s compliance with that agreement. At any rate, here at Car Loans Ohio, we think this investment in the local economy is fantastic!