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

New Ram HD Confirmed For 2020, Will Be Built In The US

New Ram HD Confirmed For 2020, Will Be Built In The US

Fiat Chrysler Automobiles NV will invest $1 billion at its Warren Truck Assembly plant to bring production of its Ram Heavy Duty truck to the US from Mexico.

Fiat Chrysler chief executive Sergio Marchionne a year ago raised the possibility that the automaker would move production of its heavy-duty pickups to the U.S., saying tax and trade policy would influence the decision.

Approximately 60,000 employees will receive a $2000 bonus in the 2nd quarter of 2018, including employees at the Belvidere Assembly plant according to a FCA spokesperson.

The creation of 2,500 new jobs will support an expansion at Fiat Chrysler's Warren Truck Assembly Plant in MI.

Zacks Investment Research upgraded shares of Fiat Chrysler Automobiles N.V. (NYSE:FCAU) from a hold rating to a buy rating in a report issued on Thursday morning.

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It also announced $2,000 in bonuses for workers, which it attributed in part to the new Republican tax bill that Mr. Trump signed before Christmas. "Plenty of more to follow!"

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

The Saltillo plant will be repurposed for production of future commercial vehicles for global distribution.

Farmers are big fans of heavy duty trucks, but many may not know those machines are built in Saltillo, Mexico, a manufacturing town just south of the border where other companies have plants, including John Deere.

FCA also is a reminder how a USA president is keeping tabs on where automakers are making investments. It will be made in addition to any profit sharing and performance bonuses.

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As the Motor City prepares for the annual North American International Auto Show, Fiat Chrysler is putting extra sizzle into the event. Like Thursday's announcement, the action is expected to be completed by 2020.

Hackel says this is "another add-on" to the roughly $10 billion automakers and suppliers have invested in Macomb County since 2010.

"It's all taking off here in Macomb County", Hackel said. "This is an unbelievable statement".

The company since June 2009 has invested $10 billion in US plants.

If President Donald Trump holds to his campaign promise to withdraw the United States from The North American Free Trade Agreement (NAFTA), it could trigger a 25 percent fee on pickup trucks made in Mexico and shipped to America, Reuters reports.

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According to an FCA press release, the automaker has invested $10 billion in US manufacturing operations since June 2009. There was no breakdown by facility, but that billion-dollar investment will also add 2,000 jobs between the two plants.

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