Chrysler to invest $1.8B in Detroit factory

TRAVERSE CITY, Mich. -- Chrysler LLC Vice Chairman Tom LaSorda said Wednesday his company will invest $1.8 billion in a Detroit assembly plant, retooling it to make a new car-based sport utility vehicle, according to The Associated Press.

LaSorda said the money will go for tooling and a flexible body shop at the Jefferson North Assembly Plant. That plant now makes the Jeep Grand Cherokee.

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Chrysler to invest $1.8B in Detroit factory