Chrysler to build Fiat 500 in Mexico

U.S. Chrysler Group LLC says it will invest $550 million to build the Fiat 500 minicar at its assembly plant near Mexico City.

Chrysler CEO Sergio Marchionne says the new work at its Toluca plant will create 400 jobs. He said Monday (February 8, 2010) the company will begin making the model in December for U.S. and Latin American markets.

Mexican President Felipe Calderon says Chrysler will produce between 100,000 and 130,000 vehicles at the plant, creating about 1,200 indirect jobs.