Fiat Chrysler will move Ram truck production from Mexico to Michigan

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

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

Once that project is complete, which is expected to cost over $1 billion and finish by the year 2020 - FCA will move the production of the Dodge Ram Heavy Duty truck from the current production facility in Mexico the one in Warren.

In the same press release, FCA said it would make a special bonus payment of $2,000 to about 60,000 hourly and salaried USA employees.

Lastly, FCA has announced it will provide 60,000 of its hourly and salary US employees with a $2,000 bonus.

President Trump commended the move yesterday on Twitter: "More great news as a result of historical Tax Cuts and Reform". Baillie Gifford & Co. now owns 79,791,751 shares of the company's stock valued at $1,430,041,000 after acquiring an additional 12,275,873 shares during the last quarter.

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"These announcements reflect our ongoing commitment to our USA manufacturing footprint and the dedicated employees who have contributed to FCA's success", CEO Sergio Marchionne says in a statement.

The Saltillo Truck Assembly Plant will be repurposed to produce future commercial vehicles for global distribution.

The company's investment will be targeted toward producing its Ram Heavy Duty trucks. Since 2011, the Company has invested more than $5.7 billion in its USA facilities and hired almost 15,000 hourly employees by keeping labor costs competitive.

Mark Hackel, Macomb County executive, said the announcement yesterday came as part of an ongoing narrative. This has resulted in the change in priorities among the vehicle manufacturers who are now manufacturing more trucks while making a reduction in their auto production, as per sources. FCA said this was on top of a large investment at the Warren factory announced a year ago. More than 700 new jobs will be added to support production, the company noted.

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President Donald Trump has just posted on Twitter that "the voters in MI are very happy they voted for Trump/Pence".

In addition, Trump scolded automakers last year for building vehicles in Mexico to little effect - auto imports from Mexico to the US hit a record level last year.

The decision also comes amidst the continuation of negotiations between the U.S., Canada and Mexico over the North American Free Trade Agreement.

Thursday's announcement was the second major auto factory news in as many days.

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The investment is a continuation of a plan already announced by the automaker, which shuffled SUV and crossover production between Ohio, Michigan, and Mexico plants.

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