Tuesday, 16 January, 2018

FCA Announces $1 Billion Investment, Employee Bonus

Chrysler Recalls 160,000 Pacifica Minivans Over Engine Stall Fears Chrysler Recalls 160,000 Pacifica Minivans Over Engine Stall Fears
Russell Knight | 14 January, 2018, 09:03

The company announced it will also be investing $1 billion in the Warren Truck Assembly Plant, where assembly of the trucks, which are now made in Mexico, will begin in 2020.

Consolidating Ram production in MI will help protect Fiat Chrysler against possible disruptions to Nafta.

The creation of 2,500 new jobs will support an expansion at Fiat Chrysler's Warren Truck Assembly Plant in MI.

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.

The move was hailed by President Donald Trump, who tweeted: "Thank you Chrysler, a very wise decision". The voters in MI are very happy they voted for Trump/Pence. More interesting news about Fiat Chrysler Automobiles N.V. (NYSE:FCAU) were released by: Streetinsider.com and their article: "UPDATE: JPMorgan Upgrades Fiat Chrysler Automobiles NV (FCAU) to Overweight" published on January 05, 2018 as well as Bloomberg.com's news article titled: "Fiat Chrysler Recalls 1.48 Million US Pickups" with publication date: December 22, 2017.

CEO Sergio Marchionne said in a statement that these announcements reflect the company's ongoing commitment to manufacturing in the U.S. He also cited the recently signed tax bill as an opportunity to share the savings with Fiat Chrysler employees.

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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", FCA CEO Sergio Marchionne said. Finally, Jefferies Group LLC set a $11.00 price objective on Fiat Chrysler Automobiles N.V. and gave the company a buy rating in a research note on Thursday, January 12th. FCA said it would add 2500 jobs as a result. It will be made in addition to any profit sharing and performance bonuses. About 90 percent of the Ram heavy-duty pickups made at Fiat Chrysler's Saltillo plant in Mexico are sold in the United States or Canada, business authorities stated.

The all-new 2019 Ram 1500 will make its debut at the North American International Auto Show in Detroit next Monday.

The county executive said the reason why General Motors, Chrysler and Ford are choosing to invest in Macomb County is the area's "dedicated, reliable and hard-working workforce", in addition to being close to the industry's supply chain.

"This is unbelievable", Hackel said. We are basically Ram county now.

The company since June 2009 has invested $10 billion in US plants.

In order to support the increase in volume that the investment at the Warren facility will bring, the company will create 2'500 new jobs. Accern identifies negative and positive press coverage by monitoring more than twenty million blog and news sources.

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