Move to create 2,500 new jobs. It is engaged in designing, engineering, manufacturing, distributing and selling vehicles and components and production systems.
Beyond lower labor costs, Mexico has negotiated an array of global free trade agreements that would better fit production of a vehicle that will be sold worldwide.
Fiat Chrysler to invest over $1 billion in Ram Truck plant
The decision to put the Ram HD pickup in Warren is the latest in a series of moves by Fiat Chrysler to enhance its truck production while cutting back on passenger vehicle output.
That $3.5 billion investment and related actions involved production shifts at three plants in Illinois, Ohio and MI to gain capacity for the Jeep Cherokee, Jeep Wrangler and Ram Light Duty truck, as well as the introduction of three new Jeep models at plants in Ohio and MI.
Vice President Mike Pence, in a tweet, hailed the decision.More news: Trump in 'excellent health': WH on 1st medical examination of President
Chrysler raised its output in Mexico by 39 percent a year ago to 639,000 vehicles, according to Mexican government data. Currently, the truck is made south of the border in Saltillo, Mexico.
On the eve of the North America International Auto Show, FCA US LLC (Auburn Hills, MI), which includes the former Chrysler Corp., made a huge splash by announcing a $1 billion Michigan plant investment and moving a product line from Mexico to Michigan. FCA had pledged to invest $5.3 billion in American plants to guarantee additional union jobs as part of that agreement.More news: Vodafone Group (VOD) Raised to "Buy" at BidaskClub
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. Ford Motor Co. canceled a plant in Mexico previous year and Toyota Motor Corp. will open a $1.6 billion factory with Mazda Motor Corp.in Alabama by 2021. The truck now is assembled in a Mexican factory that will be "repurposed" for another global product, FCA said.
Huntsville City Council on Thursday approved a US$320 million local incentive package.
And despite the significant development, announced Thursday, which FCA confirmed will lead to hiring in 2020, auto industry analysts say many jobs will go to autoworkers whose jobs will have been eliminated at other plants and also by shifting temporary workers into full-time roles.More news: Mets Planning to Sign Former Dodgers 1B Adrian Gonzalez
Huntsville Mayor Tommy Battle said before the council vote that the joint-venture factory, which is to employ about 4,000 people, would bring economic benefits to the region for generations.