Stellantis unveils massive $13B US investment plan

Stellantis, the parent of Chrysler, Jeep and Ram, unveiled plans on Tuesday to invest $13 billion to boost its U.S. domestic manufacturing footprint over the next four years.
This marks the largest single investment in the automaker's history and will support the introduction of five new vehicles across the brand portfolio in key segments, the production of the all-new four-cylinder engine, as well as fund more than 5,000 additional jobs at plants in Illinois, Ohio, Michigan and Indiana. 
"Accelerating growth in the U.S. has been a top priority since my first day. Success in America is not just good for Stellantis in the U.S. - it makes us stronger everywhere," Stellantis CEO Antonio Filosa said. 
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Stellantis said its latest investment is in addition to its "already significant U.S. footprint" and will increase its annual finished vehicle production by 50% over current levels. The new product launches will be in addition to the company's current schedule of updating 19 current models and improving their engines at all its U.S. factories through 2029. 
The investment comes amid President Donald Trump's use of tariffs to reshore U.S. jobs, including in the auto and manufacturing industries. Stellantis estimated the tariffs could take a $1.7 billion toll on its business this year. Last year, more than 40% of the 1.2 million vehicles Stellantis sold in the U.S. were imported mainly from Mexico and Canada, which face 25% tariffs. 
More than $600 million of the funds will be utilized to reopen the Belvidere Assembly Plant to expand production of the Jeep Cherokee and Jeep Compass for the U.S. market with an initial production launch expected in 2027. This action alone is anticipated to create around 3,300 new jobs.
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Nearly $400 million will be used for the assembly of an all-new midsize truck, which will be shifted from its Belvidere plant to the Toledo Assembly Complex, where it will join the Jeep Wrangler and Jeep Gladiator. The production shift could create more than 900 jobs. Launch timing is expected in 2028.
In Michigan, the company will also develop an all-new range-extended electric vehicle and internal combustion engine large SUV that will be produced at the Warren Truck Assembly Plant beginning in 2028. Nearly $100 million will be used to retool the facility. This is expected to add more than 900 jobs at the plant, which currently assembles Jeep's Wagoneer and Grand Wagoneer.
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In Indiana, the company will make investments at several of its Kokomo facilities to produce the all-new four-cylinder engine - the GMET4 EVO - beginning in 2026. The company plans to invest more than $100 million in the area, and to add more than 100 jobs to ensure that the U.S. will be the manufacturing home of this strategic powertrain.
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To date, Stellantis' U.S. footprint includes 34 manufacturing facilities, parts distribution centers and research and development locations across 14 states. The company has more than 48,000 employees, 2,600 dealers and nearly 2,300 suppliers in thousands of communities across the country.


via: https://www.foxbusiness.com/lifestyle/stellantis-unveils-massive-13b-us-investment-plan