DETROIT, Michigan (AFP) - A year after emerging from bankruptcy, Chrysler Chief Executive Officer Sergio Marchionne said he felt confident about the companys future and announced the addition of 1,100 new jobs at an assembly plant going back more than century. This is a signature vehicle for Chrysler, Chrysler and Fiat CEO Sergio Marchionne told reporters Friday as the automakers showed off the 2011 Grand Cherokee, the company first new vehicle in nearly a year. I dont worry about the world economy, Marchionne said when asked about chances that economic troubles in Europe could undermine the US economic recovery, which Chrysler is counting on too boost sales. The new Grand Cherokee features an all new V6 engine that gets 23 miles (37 kilometers) per gallon on the highway. Marchionne also said after the official launch ceremony, which drew a host of exuberant local politicians, that Chrysler has ample orders to support the production on a second shift. We have enough orders, said Marchionne, adding that part of the production will be exported to overseas markets around the world through Fiats distribution network. This is the beginning of the gradual process of re-building of this organization on the basis a very sound manufacturing philosophy that will allow this (site) to be competitive globally, and thats been my objective from the time I started, Marchionne said. This car is a series of steps in a long series of steps that will return us to global competitiveness, Marchionne said. Its really subject to market conditions and continuedperformance. Based on what I see now, I dont see any reason why we should not go public (next year), he said. But dont ask me which month, Marchionne added. Chrysler also is looking at ways to refinance the other part of the loans from the US Treasury that rescued the automaker from bankruptcy one year ago. But its very complicated matter, Marchionne pointed out. They were designed to provide long term relief to Chrysler. So before we shut down the financing source, we better be sure about what were doing, he said. However, the debt is very expensive for Chrysler, he said. Eighteen months ago I wouldnt have believed this was possible, said United Auto Workers union vice president General Holyfield, who has worked closely with Marchionne during the re-organization of Chrysler. Now the company was ready to add jobs, added Holyfield. Holiefield also said the union was prepared for the fact the new workers hired over the next two months for the second shift will be paid between 14 dollars and 16 dollars per hour depending on their skill level rather than the 28 dollars to 29 dollars per hour long-serving union members now make on Chryslers assembly lines. Theyre going to be making a living wage, he said. The union had agreed to the new entry level range in 2007 even before the financial crisis left the company bankrupt, noted Holyfield, who praised Marchionne for implementing a new manufacturing system to improve the quality of vehicles and assembly lines workers more support by eliminating clutter throughout the plant and making it easier to find the right part for a particular vehicle. In the past, Chrysler executives frequently talked about changing the companys manufacturing system, he said. But they never put in the infrastructure, he said. Marchionne said Jefferson North gave Fiats manufacturing experts an opportunity to install the new manufacturing system without much fuss. The best application is on anew vehicle, it was an ideal set of circumstances. The Jefferson North plant covers more than three million square feet and opened in 1992 as the replacement for old plant that was built in 1907. It is the only plant completely in the city of Detroit where the unemployment rate hovers around 25 percent.