Fiat Chrysler to invest over $1 billion in Ram Truck plant

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That model is now being produced in Saltillo, Mexico.

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 said this decision would create about 2,500 jobs in addition to the ones that have been previously announced. The release also announced special bonus payments of $2,000 to approximately 60,000 of Fiat Chrysler's USA employees (the release made sure to mention the bonuses excluded "senior leadership").

Mexico's auto industry association reported that the country exported more than 276,000 Ram Heavy Duty trucks in 2017, with almost 90% coming to the United States.

On Thursday, the automaker said it would spend over $1 billion in revamping the Warren Truck Assembly factory that will begin in 2020 making its Ram heavy-duty trucks.

The company will pay a one-time bonus of US$2,000 to about 60,000 hourly and salaried employees in the United States, excluding top brass, in the second quarter of 2018.

Chief executive, Sergio Marchionne, said in a statement that the declarations demonstrate our continuing devotion to our USA assembling footprint and the devoted employees who have provided to the FCA's success.

Chrysler Pacifica
Fiat Chrysler to invest over $1 billion in Ram Truck plant

Institutions own 31.23% of Fiat Chrysler Automobiles N.V. (FCAU)'s shares.

Since June 2009, the company has invested over $10bn in its USA manufacturing operations, adding thousands of jobs to the economy in the process. He projects production increases this year of about 50,000 Ram pickups and 80,000 Wranglers, boosting revenue and profit for what Chief Executive Officer Sergio Marchionne has said will be his last calendar year on the job.

$700 million in the Toledo Assembly Complex in OH to retool the North plant to produce the next generation Jeep Wrangler. The truck now is assembled in a Mexican factory that will be "repurposed" for another global product, FCA said.

Fiat/Chrysler says the tax plan will also mean the return of manufacturing jobs to the USA from Mexico.

FCA CEO Sergio Marchionne says the company should adjust its manufacturing footprint to reflect "improvement in the US business environment". Other automakers have built last-generation models and new-generation models at separate facilities to reduce plant downtime, and have offered the older models at discounted or fleet prices during production overlaps. The $1 billion investment in the Warren plant announced yesterday is in addition to the earlier announced $1 billion. More than 700 new jobs will be added to support production, the company noted.

The latest plant investments are subject to the negotiation and final approval of incentives by state and local entities.

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