Chrysler Group LLC has unveiled plans for new models and revealed the company is now breaking even as it presents its vision of the future during an event in Michigan.

The company is presenting its five-year business plan at its Auburn Hills headquarters on Wednesday, a vision it hopes will set it on a new path towards recovery.

At 11 a.m. ET, Chrysler CEO Sergio Marchionne began outlining the automaker's strategy. In addition to product and manufacturing plans, design, styling changes and quality concerns, the company provided some interesting financial details.

Marchionne said Chrysler had $5.7 billion US in cash at the end of September, up more than a billion dollars since the company emerged from bankruptcy protection in June. He also said Chrysler broke even in September.

The company has provided few details on specific models so far, but company executives did cite plans for three new Dodge cars by 2013, and new exteriors, interiors and engines on most of its current lineup.

A key component of the plan is a midsize sedan based on a bulked-up Fiat design. Chrysler hopes the car will make it more competitive in midsize sedans, the largest segment of the U.S. car market.

In addition, Chrysler models will use a common electrical architecture with Fiat platforms, executive Scott Kunselman said at the launch. And to improve quality in future vehicles, the company will begin doing digital simulations ahead of physical models, another executive revealed.

The presentation is expected to last until 5 p.m. ET, and watchers will closely parse the presentation for indications of the company's direction.

The automaker has given few indications of its plan since emerging from bankruptcy in June and joining forces with Italian carmaker Fiat, also led by Marchionne.

Hundreds of politicians, workers, executives, auto analysts and union representatives are on hand to learn details of the closely held plan.

Since Chrysler Group LLC was formed on June 10, management has set about refocusing on the company's brands. Chrysler is expected to replace some of its slow-selling models with more fuel efficient and appealing vehicles from Fiat, including a rumoured plan to bring the tony Alfa Romeo brand back to the North American market.

"I'm excited to see how he's going to deal with the question of dealing with Fiat cars, and Chrysler cars, and where they're going to be manufactured, and how he's going to be able to put both companies together," Canadian Auto Workers union president Ken Lewenza said. "But the real thing for us is to have that sense of confidence out there."