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Automaker Chrysler Opens $570 Million Plant in Mexico

Handout picture provided by the Mexican Presidency shows Mexican President Felipe Calderon (L) shaking hands with workers during a tour at the new Chrysler automaker plant in Saltillo, Cohauila state, Mexico, 29 Oct 2010

U.S. automaker Chrysler has opened a $570 million engine plant in northern Mexico.

During the ceremonial startup of the Saltillo plant Friday, Mexican President Felipe Calderon said Chrysler's sixth plant in Mexico will create 700 jobs.

Mr. Calderon said Mexico has become a worldwide leader in the auto industry.

Chrysler plans to build its new fuel-efficient Pentastar V-6 engine for Chrysler, Dodge, Jeep and Ram vehicles.

Mexican officials say the new plant will have the capacity to build 440,000 engines per year.

Some information for this report was provided by AP, AFP and Reuters.