Posted on 02/12/2003 5:04:54 PM PST by RCW2001
JOHN PORRETTO Associated Press
DETROIT - A joint venture involving DaimlerChrysler AG's Chrysler Group, Hyundai Motor Co. and Mitsubishi Motors Corp. has chosen Dundee as the site for a new engine production plant.
The 450,000-square-foot plant is expected to employ 400 people within five years.
The three automakers announced the venture called Global Engine Alliance LLC last May and said it would develop a family of inline four-cylinder gasoline engines, then build them at plants in South Korea, Japan and the United States.
On Tuesday, the alliance said it had selected a 245-acre site in Dundee, in southern Michigan near the Ohio border, for the U.S. plant, although not all government and corporate approvals have been received.
The alliance expects to have all approvals by the second quarter. It declined to disclose the anticipated investment in the Dundee plant.
"These engines will power future generations of Chrysler Group vehicles and may also supply the needs of our alliance partners," said Chrysler president and chief executive Dieter Zetsche.
The first partner to manufacture the engine will be Hyundai, which will begin production in 2004 in South Korea. Mitsubishi also will begin production next year at a plant in Japan.
Production at the U.S. facility is scheduled to begin in 2005. Total annual worldwide production is expected to reach 1.5 million engines. Four-cylinder engines are mainly used in entry-level, small cars.
In the alliance, each partner takes the lead in a specific area for plant development, including layout, production and work force strategy.
DaimlerChrysler holds a more than 37 percent equity position in Mitsubishi and more than 10 percent in Hyundai.
Michigan Gov. Jennifer Granholm said GEA considered two other Midwestern states before choosing Michigan. Michigan awarded tax credits worth up to $14.4 million over 20 years as an incentive, as well as $400,000 in economic development job training grants.
"Three major automakers are working in partnership to create new engines for their vehicles, and those engines will help drive the economy of southeast Michigan," Granholm said. "I'm proud and encouraged by the collaboration ... that has successfully attracted this job-producing project to Michigan."
ON THE NET
DaimlerChrysler AG, http://www.daimlerchrysler.com
Chrysler Group, http://www.chrysler.com
Maybe you can mount two of 'em at an angle and have independent traction: 1 for the left wheel and 1 for the right wheel, and still claim that it's a V-8.
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