DaimlerChrysler to Add to Spending in Factories

DaimlerChrysler will invest $40 billion on North American factories over the next five years, Chief Executive Juergen Schrempp said.

Schrempp, in a speech in Washington, didn’t disclose details. The investment includes tooling, manufacturing improvements and training for the Stuttgart, Germany-based company’s Chrysler, Freightliner and Mercedes-Benz units, spokesman Jason Vines said.