The next generation minivan and retooling of the Windsor Assembly Plant will cost Fiat Chrysler Automobiles about $2 billion, according to the company’s CEO.
Sergio Marchionne revealed the cost at a press conference at the North American International Auto Show on Monday.
"We have put in two billion dollars between engineering and development and plant infrastructure to build this van," says Marchionne.
He says that should be reassuring for those who worry about the future of the plant.
“I think it's the single largest Canadian investment made in the auto sector in the last 10 years,” says Marchionne.
Marchionne says the last major retooling kept the plant vibrant for 20 years.
As for the current minivan, he doesn't expect it to be manufactured past the next two years.
"There are regulations coming into effect in 2017 that are either going to require a substantial investment into the old architecture to make the problem go away or they are just not sellable," he says.
The Chrysler Town and Country will be the next generation minivan and it will be on sale early next year.
Marchionne says if a new product comes to Windsor assembly, it would be a crossover vehicle. He says he's working on the economics of that case right now, but the vehicle is designed and the company is trying to figure out whether they can sell enough.
