FCA to Spend $2 Billion on New Minivan

2016 Town & Country spy photo

Fiat Chrysler Automobiles NV says it will invest $2 billion to design and retool its factory in Windsor, Ont., for a next-generation minivan. The vehicle will go into production in 2016.

CEO Sergio Marchionne says he aims to unveil the new model in production form at next year's Detroit auto show. He says the new model is likely to retain the current Town & Country name.

FCA plans to close the Windsor plant in February and spend 90 days retooling it for the new model.

Last February Marchionne threatened to move minivan production out of Canada unless Chrysler received hefty incentives. Canada offered about $639 million, which he dismissed as insufficient. Marchionne dropped all requests for aid a month later.