Published: Fri, January 12, 2018
Business | By Max Garcia

On Eve of Detroit show, FCA Announces $1B Investment


"It is only proper that our employees share in the savings generated by tax reform and that we openly acknowledge the resulting improvement in the USA business environment by investing in our industrial footprint accordingly", FCA CEO Sergio Marchionne said in a statement.

The investment announcement comes a year after Fiat Chrysler revealed initial plans to invest in Warren for the launch of the new Jeep Wagoneer and Grand Wagoneer.

FCA's initial investment in Warren for the Wagoneers was announced in January 2017.

Fiat/Chrysler says the tax plan will also mean the return of manufacturing jobs to the US from Mexico.

What's more, FCA said it would pay a $2000 bonus to 60,000 hourly and salaried employees, which the company said was made possible by a huge corporate tax cut enacted late a year ago.

Fiat Chrysler Automobiles (FCHA.MI) (FCAU.N) said on Thursday it will shift production of Ram heavy-duty pickup trucks from Mexico to Michigan in 2020, a move that lowers the risk to the automaker's profit should President Donald Trump pull the United States out of the North American Free Trade Agreement.

$350 million in the Belvidere Assembly Plant in IL to produce the Jeep Cherokee, which moved from Toledo, OH, in 2017. More than 300 new jobs were added to support production.

$700 million in the Toledo Assembly Complex in OH to retool the North plant to produce the next generation Jeep Wrangler. FCA said this was on top of a large investment at the Warren factory announced past year. Approximately 700 new jobs will be added to support production. The current Ram heavy duties are built at the Saltillo Truck Assembly Plant in Mexico. "It is only proper that our employees share in the savings generated by tax reform and that we openly acknowledge the resulting improvement in the USA business environment by investing in our industrial footprint accordingly".

"It's pretty much Ram country here in Macomb County now", Macomb County Executive Mark Hackel said Thursday night after FCA's Warren truck plant announcement.

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