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

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

Fiat Chrysler Automobiles plans to invest more than $1 billion to modernize its massive Warren Truck Assembly Plant in MI to produce the redesigned, next-generation Ram heavy-duty pickup trucks.

With the Ram 1500 moving from Warren to Sterling Heights, the old Warren Truck Assembly Plant will be retooled to build the Ram Heavy Duty along with the new Jeep Wagoneer lineup.

The Warren Truck Assembly Plant now builds the Ram 1500 and it has done so for decades, but half-ton Ram truck production is being shifted over to the Sterling Heights Assembly Plant.

Fiat Chrysler stated would create 2,500 jobs at a factory in Warren, Michigan, near Detroit and invest $1 billion in the facility.

But besides potential mergers, a stable pricing environment, solid volume growth and the recently announced USA corporate tax reform could underpin auto stocks such as FCA this year, J.P. Morgan said last week.

Trump has threatened to force the rollback of NAFTA, which makes it possible for the free flow of products made in the United States, Canada and Mexico throughout the borders of those nations. Accern identifies negative and positive press coverage by monitoring more than twenty million blog and news sources. Separately, the Euro-American automaker announced plans to pay $2,000 bonuses to 60,000 US hourly and salaried employees this coming spring.

More news: 980-HP Toyota Concept Could Inspire Future Supercar

In addition, Chrysler officially announced its plan to relocate a major production plant from Mexico to MI "in response to the passage of US tax reform late past year". FCA said it does not plan to shutter the Mexico plant but hasn't said what plans it may have for the facility.

$350 million in the Belvidere Assembly Plant in IL to produce the Jeep Cherokee, which moved from Toledo, OH, in 2017.

FCA announced that the investment would create roughly 2,500 jobs at the plant in MI. The automaker will modernize the Warren plant and prepare it for Ram HD production.

FCA announced today two actions made possible in part by the passage of US tax reform legislation late previous year - an additional investment in its USA manufacturing operations and a special payment to recognize employees for their continued efforts towards the success of the Company.

In this case, it's more the imagined, despite his repeated claims he's bringing more auto jobs back to America.

If NAFTA ends, the US nearly certainly would slap a 25% tariff on every truck shipped across the border. BidaskClub raised Fiat Chrysler Automobiles from a buy rating to a strong-buy rating in a research note on Thursday, September 28th. In early 2017, the company announced it would spend over $1 billion to pay for expanding factories in MI and OH which would create 2,000 jobs.

Related Articles

  • Saturday NBA game preview: Golden State Warriors at Toronto Raptors

    Saturday NBA game preview: Golden State Warriors at Toronto Raptors

    All-Star point guard Kemba Walker had several shots blocked on drives to the basket and finished 5 of 17 from the field. NOTES: Warriors F Kevon Looney had nine points and eight rebounds in 23 minutes playing in his hometown.
    Israeli Air Force Fires Missiles Into A Border Tunnel In Southern Gaza

    Israeli Air Force Fires Missiles Into A Border Tunnel In Southern Gaza

    He said he was not aware of any casualties from the destruction of the tunnel, which was still being built. Yoav Mordechai, the Coordinator of Government Activities in the Territories (COGAT), said on Facebook.

    Tigress Financial Initiates Coverage on Starbucks (SBUX)

    On average, equities research analysts expect that Starbucks Corporation will post $2.13 EPS for the current fiscal year. SUPERVALU Inc. (SVU) have shown a high EPS growth of 16.70% in the last 5 years and has earnings decline of -69.70% yoy.
  • White House not denying Trump used profanity to describe African countries

    White House not denying Trump used profanity to describe African countries

    LOU BARLETTA: We need to make sure that we're not going to have another 800,000 or million people coming into the country. A permanent way to protect DACA recipients and provide a path to citizenship is necessary, he said.
    Google Assistant shouts down Alexa at CES

    Google Assistant shouts down Alexa at CES

    Google representatives also made a lot of cameos at various manufacturers' keynote events at the currently-ongoing CES 2018 show. Google Assistant has always been playing catch-up to Amazon's artificially-intelligent (AI) digital assistant Alexa .
    Chris Brown Monkey Business Could Get Him Prosecuted

    Chris Brown Monkey Business Could Get Him Prosecuted

    While the Heartbreak on a Full Moon singer no longer has the monkey, he may be facing criminal charges and jail time. It should also be worth noting that Fiji , the monkey, is now in good hands and doing just fine.
  • Fuel Scarcity: FG Meets With Major Oil Marketers

    Fuel Scarcity: FG Meets With Major Oil Marketers

    Also in his presentation, the Group Managing Director of the NNPC, Maikanti Baru, enumerated reasons for the scarcity of fuel. So, government has to find a way and ensure that marketers themselves are importing alongside NNPC and still sell at N145.
    Eagles Survive Atlanta, 15-10, To Advance To NFC Championship

    Eagles Survive Atlanta, 15-10, To Advance To NFC Championship

    I was just locking in one play at a time ", Jones said on the play-calling. "Anything more we can use to motivate us, well use". Keep calling them underdogs. "That was the biggest rush of emotion was just thinking about the players".
    Juan Del Potro sets up Auckland Classic semi-final with David Ferrer

    Juan Del Potro sets up Auckland Classic semi-final with David Ferrer

    In the doubles, Belarusian Max Mirnyi and Austrian Philipp Oswald will take on Austrian Oliver Marach and Croatian Mate Pavic. But he'd look to recover quickly for a tilt at the final.
  • Man United now favourites to sign Sanchez after City pull out

    Man United now favourites to sign Sanchez after City pull out

    It's why if a lucrative offer from a major club does come in, few would blame him for embarking on a new challenge. He doesn't seem to fit into David Moyes' plans, but Mourinho is a fan of the player.
    Trai cuts ISD incoming call termination rate

    Trai cuts ISD incoming call termination rate

    The number of worldwide calls made to India were comparatively lesser than those originating from the country. However, Reliance Jio which is also a member of the industry body has a divergent view on this issue.
    Netanyahu Visits India: Muslims Burn Israeli Effigies in Protest

    Netanyahu Visits India: Muslims Burn Israeli Effigies in Protest

    In July previous year , Modi visited Israel as the first Indian Prime Minister since the establishment of bilateral ties in 1992. Netanyahu will hold meetings with President Ram Nath Kovind and External Affairs Minister Sushma Swaraj, apart from Modi.