American automobile manufacturer Chrysler Group has invested $1.25bn in two facilities in Saltillo in Mexican state of Coahuila, a move which created 1,570 jobs.
Of the total investment, about $1.08bn was spent in building of the new Van Assembly Plant for the production of the Ram ProMaster commercial vehicle.
The Ram ProMaster vehicles assembled at the facility will feature a modern six-speed automatic transmission, advanced security systems and vertical space for easy loading, and will be in Mexico, Canada and the US.
Funds for the Van Assembly Plant project have been provided by Mexican development banks Bancomext and Nafin.
The remaining $164m of the investment will be used to launch a new production line to assemble Tigershark engines at the Saltillo North Engine Plant. The plant will assemble the 2-l and 2.4-l Tigershark engines will be assembled at this plant, alongside the company′s flagship HEMI V-8 engines.
Van Assembly Plant and North Engine Plant will generate more than 1,100 and 470 new jobs, respectively.
Both the Ram ProMaster and the Tigershark engine will be exported to various markets, based on Free Trade Agreements that Mexico has with several countries.
