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Fiat Chrysler Unveils Plan to Invest $5.3 Billion in American Plants

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Sergio Marchionne said the auto industry isn't an earnings call with Wall Street experts

FCA US, headed by Sergion Marchionne, is invest $5.3 billion into its American plants

Fiat Chrysler Automobiles is already planning to move the production of its cars to Mexico—but it looks like the American carmaker has something else up its sleeve. As part of its plan to move production, Fiat Chrysler Automobiles has made a commitment to also invest an astounding $5.3 billion in its American assembly plants over the next four years.

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This large investment is part of a tentative agreement with the UAW. The plan FCA US has set in place will shuffle the production locations of new and current pickup trucks and crossover vehicles, since many FCA cars and SUVs will move to Mexico. While there will be a major shift in resources, the automaker’s investment is expected to secure thousands of jobs.

The $5.3 billion investment breaks down as follows: $3.4 billion will be invested in assembly plants, while engine and transmission plants will get a $1.5 billion investment. Stamping plants will receive $315 million of the investment and Mopar parts distribution plants will get $34 million.

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It is still unclear as to what vehicles will be made where. All the American carmaker has confirmed is that the Chrysler 200 and Dodge Dart will move from their current production locations in Sterling Heights, Michigan and Belvidere, Illinois respectively, to Toluca, Mexico.

News Source: Detroit Free Press