Chrysler Toots Horn, Adds 1,250 jobs in Detroit

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Chrysler Group LLC, the Detroit automotive icon now owned by Italy's Fiat, announced a plan on Thursday to invest $240 million in its U.S. factories to increase automotive engine manufacturing capacity. Concurrently, the company said it will be adding 1,250 jobs in and around Detroit.

The company said that 250 of the new jobs will be added at its Mack I Engine Plant, which currently manufactures the 4.7 liter V-8 engine for the Dodge Ram 1500 pickup, and will switch to making the new Pentastar V-6 engine in 2014. An additional 1,000 jobs will be added at the Warren Truck Assembly Plant to add a third manufacturing shift, beginning in March 2013. This factory will focus on producing the 2013 model year Ram 1500 pickup.

Over the past three years, Chrysler has added 6,000 hourly jobs at its U.S. facilities. According to CEO Sergio Marchionne:

All of these investments are the direct result of a lot of people who have battled courageously to bring Chrysler back to a state of growth. It is our contribution toward helping southeastern Michigan get back on its feet.

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Rich Smith

I like things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well. Follow me on Twitter or Facebook for the most important developments in defense & aerospace news, and other great stories besides.

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