Following the announcement that Chrysler is scrapping plans to build the Imperial sedan at its Brampton plant in Ontario, the carmaker says it will instead use the facility to build its 300 model starting from 2010. An updated version of the 300 has been pencilled in for a 2010 or 2011 launch, but the Brampton plant will be refitted to continue building the current model that’s presently constructed in Europe.

Chrysler has signed an agreement with local unions promising to invest $1.2 billion in developing the new 300, reports the Detroit Free Press, which should eventuate into a direct $500 million investment for the actual Brampton facility.

The Brampton site, which currently employs over 4,200 people, will continue building the Dodge Charger and Magnum and soon it will be building both right- and left-hand drive 300s as well as a diesel version.