Fiat Chrsyler Automobiles said Thursday it was set to invest over one billion dollars in its plant at Warren in MI, where it will move from Mexico the production of the next generation of Ram Heavy Duty pickups.
FCA said that the move will create 2,500 new jobs at the plant, on top of 2,000 new jobs the company announced in January previous year as it tools up to build more pickups and sport utility vehicles in US plants.
Also, the company said that it will make a bonus payment of $2,000 to approximately 60,000 FCA hourly and salaried employees in the US, excluding senior leadership.
Fiat Chrysler will be moving the production of its Ram heavy-duty truck from Mexico to MI and giving its workforce a substantial bonus due to tax reform. FCA said it does not plan to shutter the Mexico plant but hasn't said what plans it may have for the facility. "I know I gave you a hard time, but you have to build them here".
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The company said roughly 60,000 hourly and salaried American workers will receive an additional $2,000, according to Reuters. Apparently, the bonus amount will be rolled out in the second quarter of this year in surplus of performance-related & profit-sharing bonuses. More interesting news about Fiat Chrysler Automobiles N.V. (NYSE:FCAU) were released by: Bloomberg.com and their article: "Fiat Chrysler Recalls 1.48 Million US Pickups" published on December 22, 2017 as well as Usatoday.com's news article titled: "For Fiat brand, a disastrous end to a hard year" with publication date: January 08, 2018.
On Wednesday, Toyota Motor Corp and Mazda Motor Corp announced they would build a new $1.6 billion joint venture auto assembly plant in Alabama, drawing praise from Trump. It also engages in the property investment, sourcing, finance, and IT services businesses.
In an announcement January 11, the automaker said the investment will solidify the U.S. It emphasized that 2,500 jobs will be created, beyond ones announced last January.
"This is unbelievable", Hackel said.
FCA has invested $10 billion in its US manufacturing operations since June 2009. They support production in the Jeep and Ram lines, and will also help bring three new Jeep models to plants in OH and MI. And it invested over $1 billion in a Toledo, Ohio plant to handle the completely redesigned 2018 Jeep Wrangler. As per authentic sources, almost twenty-five hundred new jobs will be created by the firm in MI.