No deal yet with Ottawa and Ontario for Chrysler expansion says CEO
TORONTO - The CEO of Chrysler says discussions with Ottawa and Ontario for additional investment in Canada haven't yet yielded the results he's seeking.
Sergio Marchionne says his company wants to make significant investments in Canada and that, as a Canadian, he'd like to see his company invest in the Brampton and Windsor plants.
But he says the two levels of government have to be part of the effort and noted that other jurisdictions have approached the auto maker since its expansion plans have became public.
Marchionne did not confirm reports that Chrysler was looking for $700 million from the governments as part of its $3.6 billion overall investment, only saying that negotiations continue.
When pressed, however, he said the company was about halfway to getting what it was seeking.
Marchionne was speaking at the Canadian International Auto Show in Toronto, after a speech kicking off the event.
Chrysler said last month it was considering a billion-dollar upgrade at its Ontario plant to build a new minivan, but was in talks with the government about an incentive package that would help offset higher costs in Canada.
The federal government said in this week's budget that it had set aside an additional $500 million for the Automotive Innovation Fund, but did not release details.
Read more Business News
- Teen's wheel well flightWorld
- OK College better than OKCentral Okanagan
- 4/20ers hit Parliament HillCanada
- Kelowna Mountain opensKelowna
|QHR Technologies Inc||1.29||+0.07|
|Anavex Life Sciences||0.375||0.00|
|Copper Mountain Mining||2.35||-0.07|
|Sunrise Resources Ltd||0.025||-0.005|
|Mission Ready Services||0.25||+0.02|
With all of the adventure activities I have done and still do, I wonder sometimes if the edge still exists. The systematic approach to learning a new adventure or extreme activity combined with the r...
How much time should you put into prospecting? The question is a bit of a puzzle. Ideally, there would be a reference book that lists, by industry, how much time you should invest in prospecting acti...
The Big Picture Valuation fears grip markets Growing concerns about the level of stock market valuations sparked a risk-off trade in global markets this week. Investors are worried that many companies...