Chrysler to spend $500M to start Fiat 500 production at Toluca plant

The plant that has been cranking out PT Cruisers for the past decade will soon be producing another iconic automobile.

Chrysler CEO Sergio Marchionne announced the company will spend $500 million to retool the plant for production of the Fiat 500 beginning in late December of this year.

Unlike other most other vehicles that will spring from the merger of the Chrysler and Fiat lines, the 500 will wear a Fiat badge in the U.S. as part of the brand’s return to the North American market. It will be sold and serviced through Chrysler dealerships.

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