Fiat Chrysler to invest $1 billion in MI - adding 2'500 new jobs

President Donald Trump speaks during a prison reform roundtable in the Roosevelt Room of the Washington Thursday Jan. 11 2018

President Donald Trump speaks during a prison reform roundtable in the Roosevelt Room of the Washington Thursday Jan. 11 2018

Fiat Chrysler Automobiles stated it will move production of Ram heavy-duty pickup trucks from Mexico to MI in 2020, a move that decreases the threat to the automaker's profit should President Donald Trump pull the United States from the North American Free Trade Agreement (NAFTA).

In an announcement January 11, the automaker said the investment will solidify the U.S.

Chief executive, Sergio Marchionne, said in a statement that the declarations demonstrate our continuing devotion to our U.S. assembling footprint and the devoted employees who have provided to the FCA's success.

In addition, Chrysler officially announced its plan to relocate a major production plant from Mexico to MI "in response to the passage of USA tax reform late past year". The Saltillo plant will eventually be retooled to build a future commercial vehicle - perhaps something van-shaped.

The Italian-American automaker will share the spoils of a lower corporate tax rate by sending $2,000 checks to about 60,000 US workers.

Moving Ram Heavy Duty production to MI mitigates somewhat the risk of auto industry-unfavorable changes that President Trump has pushed for in the North American Free Trade Agreement (NAFTA). The company also plans to offer special bonus payments to 60,000 FCA employees in the United States, moves it said were made possible in part by the passage of US tax reform legislation late previous year. "Thank you Chrysler, a very wise decision".

US Vice President Mike Pence praised Fiat Chrysler's announcement. The truck is now made in Saltillo, Mexico.


Jeep is one of several brands in an FCA portfolio that also includes luxury Maseratis, sporty Alfa Romeos and mass-market Fiats.

Fiat Chrysler has been producing heavy-duty Ram pickups in Saltillo, Mexico. It will be made in addition to any profit sharing and performance bonuses.

The all-new 2019 Ram 1500 will make its debut at the North American International Auto Show in Detroit next Monday.

"Macomb County has become Dodge Ram country", Hackel said.

"This is unbelievable", Hackel said. Cambridge Investment Research Advisors Inc. now owns 13,222 shares of the company's stock valued at $141,000 after purchasing an additional 430 shares in the last quarter.

The stock jumped more than 20 percent last week on a bullish outlook for the auto sector and media speculation that Chief Executive Sergio Marchionne's final year at the helm could prompt strategic deals such as spin-offs, technology alliances and disposals.

Those investments will have added 3,700 new jobs in the USA, according to Fiat Chrysler. More than 2,000 jobs are expected to be added to support production of Wagoneers.

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