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
- Jet ski operator suffered a skull fractureKelowna - 11:42 am
- No vote yet on land swapPenticton / S. Okanagan - 9:16 am
- Pedestrian struck near collegeKelowna - 9:44 am
- Tweet away, twitter is back upWorld - 12:08 pm
|QHR Technologies Inc||1.24||+0.05|
|Anavex Life Sciences||0.47||-0.07|
|Copper Mountain Mining||2.03||-0.11|
|Sunrise Resources Ltd||0.035||+0.005|
|Mission Ready Services||0.29||+0.015|
How will you pay for this today? Maybe it’s time to change the way you answer this common checkout question.With more payment options than ever, consumers can find easy ways to save money, simpl...
In the razzle dazzle of Hollywood it is hard to find anyone who stands out from the crowd. The fraternity of Actors, Producers, Directors and various other technical guru’s seem to live in a wo...
This past Sunday I drove from Kelowna to Powell River. For those of you who’ve never had to, particularly in winter, it means rising in the wee hours; managing a treacherous journey on the Coqui...