DaimlerChrysler's Chrysler division said on August 3 it was investing nearly $2 billion in a new vehicle assembly complex in Toledo, Ohio, according to a report by Reuters. Construction work on the site will begin in the fall and vehicle production will begin sometime in 2006, Chrysler COO Tom LaSorda told a news conference. The complex will be located alongside the company's existing Jeep assembly plant on the north end of Toledo. Unlike other Chrysler plants, independent automotive suppliers will build and manage key manufacturing facilities within the new complex, Chrysler said. It said the suppliers, who will contribute about $300 million toward the total $2.1 billion cost of the plant, will be responsible for body, paint and chassis operations, among other parts of the manufacturing process. Suppliers selected for co-location at the Toledo site so far include Hyundai Mobis, Durr Industries and the Kuka Group, Chrysler said.

Originally posted on Fleet Financials