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Fiat Chrysler to invest $1 billion in MI - adding 2'500 new jobs
14 January 2018, 01:46 | Brandon Parsons
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That $3.5 billion investment and related actions involved production shifts at three plants in Illinois, Ohio and MI to gain capacity for the Jeep Cherokee, Jeep Wrangler and Ram Light Duty truck, as well as the introduction of three new Jeep models at plants in Ohio and MI.
Negotiators for the US, Mexico and Canada are scheduled to meet later this month for another round of talks on revising the NAFTA. Canadian government officials previously this week stated they are convinced that Trump intends to reveal his intention to give up the agreement. Currently, the truck is made south of the border in Saltillo, Mexico. More than 300 new jobs were added to support production. Jeep will build a new Wagoneer and Grand Wagoneer SUV at the same facility, the first time the automaker has announced production plans for its upcoming SUV lineup. Fiat Chrysler had 30 analyst reports since August 24, 2015 according to SRatingsIntel.
"Manufacturing is back. Great announcement". Pence said in a Twitter posting.
Chrysler raised its output in Mexico by 39 percent a year ago to 639,000 vehicles, according to Mexican government data. General Motors Co. (Detroit) is scheduled to introduce a redesigned Silverado large pickup on Saturday evening.
Since the last two years Fiat Chrysler has been managing an expansive shake up of its United States fabricating service in a flurry to generate more trucks and jeeps as a reply to the increasing consumer demand for extensive spacious vehicles and plunging sales of miniature and midsize cars.
That investor optimism gathered momentum on Monday, with the share price gaining another 3 percent after Morgan Stanley MS.N analysts said that Jeep - one of the main pillars of Marchionne's turnaround plan and a key profit driver for the group - could make big strides this year as a global brand.
Second, the Company confirmed that it will make a special bonus payment of $2,000 to approximately 60,000 FCA hourly and salaried employees in the US, excluding senior leadership.
The investment means 2,500 more jobs by 2020 and a $2,000 bonus for the automakers' 60,000 hourly and salaried workers.
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Jonas Valanciunas's dunk pulled the Raptors to within 94-83 with 3:16 remaining but Golden State ended the quarter on an 11-2 run. The Golden State Warriors are allowing 36.3 percent shooting from deep and are grabbing 44.8 rebounds per game.