Fiat Chrysler has confirmed a major billion dollar investment which will create 2,000 new jobs.
Fiat Chrysler will invest a total of $(US)one billion investment into plants in Michigan and Ohio. The company has committed investments of more than $9.6 billion in its U.S. manufacturing facilities and created 25,000 new jobs to date since 2009.
The announcement is the second phase of an industrialization plan announced in January 2016. The plan called for the realignment of the Company’s U.S. manufacturing operations to fully utilize available capacity to respond to a shift in market demand for trucks and SUVs, and to further expand the Jeep and Ram brands.
As part of the investment, Fiat Chrysler will retool and modernize the Warren Truck Assembly Plant in Michigan to produce the all-new Jeep Wagoneer and Grand Wagoneer, and the south plant of the Toledo Assembly Complex in Ohio to build an all-new Jeep pickup truck.
“The conversion of our industrial footprint completes this stage of our transformation as we respond to the shift in consumer tastes to trucks and SUVs, and as we continue to reinforce the U.S. as a global manufacturing hub for those vehicles at the heart of the SUV and truck market,” said Sergio Marchionne, chief executive officer of Fiat Chrysler Automobiles N.V.
“These moves, which have been under discussion with Dennis Williams and the rest of the UAW leadership for some time, expand our capacity in these key segments, enabling us to meet growing demand here in the U.S., but more importantly to increase exports of our mid-size and larger vehicles to international markets.
The expansion of the Jeep line-up continues to be the key pillar of Fiat Chrysler’s strategy. “Our commitment to internationalize the Jeep brand is unwavering, and with these last moves, we will finally have the capacity to successfully penetrate markets other than the U.S. which have historically been denied product due to capacity constraints. In addition, these all-new products will reach new consumers, as well as those that have been part of the Jeep tradition,” said Marchionne.