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

Mexico has free trade agreements with a number of nations.

The company, in a press release, said the moves were being "made possible in part by the passage of US tax reform legislation".

Warren Truck now builds the latest Ram 1500 pickup, although production of next year's truck will move to Sterling Heights Assembly Plant, which is also in MI.

Negotiators for the United States, Mexico and Canada are scheduled to meet later this month for another round of talks on revising NAFTA. Trump reiterated a threat to pull out of the trade accord on Thursday, a day after Canadian officials said they viewed the odds of withdrawal as rising.

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Trump is also seeking to revamp the North American Free Trade Agreement (Nafta) with Canada and Mexico, and has encouraged USA businesses to bring jobs back home from across the southern border. 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. The company has announced a $1 billion investment into its manufacturing operations and a $2,000 bonus for over 60,000 US workers.

Fiat Chrysler Automobiles N.V., together with its subsidiaries, designs, engineers, manufactures, distributes, and sells vehicles, components, and production systems.

The decision by FCA was hailed by the U.S. Vice President Mike Pence who tweeted that manufacturing is back and is proof the America first policies of the administration are working. Pence said in a Twitter posting. Fiat Chrysler Automobiles N.V. (NYSE:FCAU) has risen 53.96% since January 12, 2017 and is uptrending. General Motors Co. (Detroit) is scheduled to introduce a redesigned Silverado large pickup on Saturday evening.

FCA, like Ford and GM, will soon announce profit-sharing bonuses for hourly employees.

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Most recently, the company announced investments totaling $3.5 billion, with the addition of 3,700 new jobs, to strengthen its United States manufacturing base, and align USA capacity to extend the Jeep and Ram product lines.

Ceballos said there was no current plan to either reduce or grow the workforce in Mexico.

“Now we are talking multiple billions of dollars in the Sterling Heights Assembly Plant, ” he said.

In addition, the carmaker said its 60,000 hourly and salaried USA employees would receive $2,000 bonuses in the second-quarter of this year. Typically, U.S. automakers only pay bonuses to hourly workers as part of collective bargaining agreements.

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