Friday, May 29th16.6°C
26329
24291

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.

The Canadian Press


Read more Business News

26181


Recent Trending




Today's Market
S&P TSX15032.60-74.38
S&P CDNX693.10+0.94
DJIA18054.42-71.70
Nasdaq5078.76-19.22
S&P 5002115.15-5.64
CDN Dollar0.8011-0.0035
Gold1187.40-16.90
Oil58.92+0.55
Lumber273.90+1.40
Natural Gas2.81-0.01

 
Okanagan Companies
Pacific Safety0.14+0.01
Knighthawk0.010.00
QHR Technologies Inc1.50+0.02
Cantex0.03-0.01
Anavex Life Sciences0.3925-0.0075
Metalex Ventures0.07-0.01
Russel Metals25.11-0.09
Copper Mountain Mining1.35+0.05
Colorado Resources0.10-0.01
ReliaBrand Inc0.0129-0.0010
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.15-0.00
Decisive Dividend Corporation2.10+0.16

 



26181

FEATURED Property
2305053304-3589 Skaha Lake Road
2 bedrooms 2 baths
$334,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Yard sale pricing

Photo: Thinkstock.comI have deliberately abridged this household tips article to illustrate pricing strategies. "Tips For Pricing Yard Sale Items” was written by Lynnette Walczak, and publi...


What's a robo-advisor?

Photo: ContributedIt can only be attributable to human error. -Hal, 2001: A Space Odyssey For most of us who are within thinking distance of retirement, the term “robo” conjures up image...


Cash stressed seniors

Photo: Thinkstock.comFor many Canadian homeowners, their house represents the biggest portion of their net worth. Now, increasing numbers of seniors are starting to recognize the hidden value of their...

_



25217

25217


Member of BC Press Council


25895