Ontario's auto industry is now in full crisis; actually, it has been increasingly struggling for the past several months. Will there be a rebirth? Maybe, but it won't necessarily come from traditional investors.
A while ago, Fiat announced plans for North America. Through its Alfa Romeo division, the Italian automaker wants to establish a network in Mexico, the United States and Canada. The project is certainly interesting, but construction costs will have to be reduced if Fiat hopes to market cars at reasonable prices. Sales operations are scheduled to begin in 2009-2010 at the earliest; in the meantime, the company is looking for production sites.
True to his opportunistic self, Ontario premier Dalton McGuinty, accompanied by the Minister of Economic Development and Trade, Sandra Pupatello, recently went to Torino, Italy, to negotiate with Fiat representatives, including CEO Sergio Marchionne. The latter has both the Italian and Canadian citizenships, having grown in the Toronto area.
The revival of the auto industry is critical to Ontario's economic health. Since a couple of production facilities have recently closed, the province has a strong, skilled workforce ready to serve any automaker, like Fiat, which chooses Canada for one of its new assembly plants.
photo:Fiat
A while ago, Fiat announced plans for North America. Through its Alfa Romeo division, the Italian automaker wants to establish a network in Mexico, the United States and Canada. The project is certainly interesting, but construction costs will have to be reduced if Fiat hopes to market cars at reasonable prices. Sales operations are scheduled to begin in 2009-2010 at the earliest; in the meantime, the company is looking for production sites.
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| 2008 Fiat 500 |
True to his opportunistic self, Ontario premier Dalton McGuinty, accompanied by the Minister of Economic Development and Trade, Sandra Pupatello, recently went to Torino, Italy, to negotiate with Fiat representatives, including CEO Sergio Marchionne. The latter has both the Italian and Canadian citizenships, having grown in the Toronto area.
The revival of the auto industry is critical to Ontario's economic health. Since a couple of production facilities have recently closed, the province has a strong, skilled workforce ready to serve any automaker, like Fiat, which chooses Canada for one of its new assembly plants.
photo:Fiat