Fiat Chrysler today announced it will invest $500 million in its Cordoba, Argentina production facility in order to build a ““new mono assembled model built on a modular platform,” The Detroit News reports.
The plant will begin production of the new model in 2017 with an annual capacity of 100,000 vehicles a year. The $500 million investment will be spent on retooling plant, installing more than 150 robots, training employees and completing other research and development tasks.
“This plant will operate using the most advanced technologies available to FCA today,” said FCA CEO Sergio Marchionne in a prepared statement. “This choice demonstrates a major strategic change, giving the Córdoba plant a central role in FCA’s industrial activities in Latin America.”
The Cordoba plant currently produces the Fiat Palio hatchback and related Fiat Siena sedan for Latin American markets. Little is known about the new vehicle to arrive at Cordoba, however it will be for Latin American markets mainly, with FCA expecting 80 percent of cars to be sold within other Latin American countries.