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
- Rifle stolen from truckVernon / N. Okanagan - 4:47 pm
- RCMP truck goes off cliffVernon / N. Okanagan - 4:38 pm
- Stalking cougars killedVernon / N. Okanagan - 1:07 pm
- Cougars in your backyard?Poll - 5:00 pm
|QHR Technologies Inc||1.23||+0.01|
|Anavex Life Sciences||0.185||-0.01|
|Copper Mountain Mining||2.52||+0.11|
|Sunrise Resources Ltd||0.065||+0.045|
|Mission Ready Services||0.34||-0.02|
Part 2 of 2 to read Part 1, click here. 5. Dial down your vacations. New York is out. Maybe Buffalo. For West coast, maybe Seattle instead of Hawaii. Use sites like Airbnb (aribnb.ca) to find ch...
Niche food producer “Sweets from the Earth” thrives using innovation, uniqueness and an unwavering focus on quality. A neighbour’s stew turned Ilana Kadonoff off meat at the age of s...
Recently I had the privilege of working alongside André Voskuil, a local guru in the world of Alternative Financing. André has quite the reputation in the world of direct investments as ...