Marchionne mulls Canada investment talks image

Chief Executive Sergio Marchionne said the Chrysler Group has not yet restarted negotiations with government officials in Canada, although the company is open to any financial aid deal.

The financial support concerns Chrysler’s plans to invest in Ontario’s Windsor minivan manufacturing facility – where the CEO says the company has already started pouring money without any Canadian aid. According to reports, a previously discussed deal between Chrysler and Canadian officials failed, as the US automaker sought a financial backing of $700 million for its planned $3.6 billion investment in the factory.

“If in fact the federal government or the province of Ontario think that there is a proposal that would be of interest to Chrysler, I think we’re more than willing to sit down and discuss it,” Marchionne said. “But, today, I think the horse left the barn, and the (Chrysler) investment is going into Windsor and that’s all there is to say.”

The third-largest automaker in the US announced a while ago it plans to develop and manufacture its next generation minivan in Windsor, Ontario. For now, further details about the investment are unknown, with observers questioning the scale of the planned upgrade after the talks with the officials were scuttled.

Via Reuters