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

Why the President just said Michigan voters are 'very happy they voted for Trump/Pence'

Fiat Chrysler Automobiles NV is investing US$1 billion in a MI truck factory and paying worker bonuses in the wake of a USA tax cut, gestures that could come in handy amid major policy matters being sorted out in Washington.

In January 2017, the company announced that it would invest a portion of $1 billion in Warren Truck Assembly to expand the Jeep product line with the addition of the all-new Jeep Wagoneer and Grand Wagoneer.

The Saltillo plant will be repurposed for production of future commercial vehicles for global distribution.

"It's pretty much Ram country here in Macomb County now", Macomb County Executive Mark Hackel said Thursday night after FCA's Warren truck plant announcement. Some of that money was earmarked for Warren, where FCA said it plans to start making the Jeep Wagoneer and Grand Wagoneer by 2020.

What's more, FCA said it would pay a $2000 bonus to 60,000 hourly and salaried employees, which the company said was made possible by a huge corporate tax cut enacted late a year ago. 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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The company also noted that it has invested some $10 billion in its USA manufacturing operations since June 2009, with some $3.5 billion alone focused on Jeep and Ram Truck production realignment that included the addition of 3,700 new jobs.

Fiat/Chrysler joins a list of almost 200 USA companies which have announced bonuses or pay increases to employees after the passage of the tax bill.

Fiat CEO Sergio Marchionne said news of the investment shows how committed the company is to investing in the United States, in a statement cited by CNBC report. In the process, it will add 2,500 jobs. Typically, U.S. automakers only pay bonuses to hourly workers as part of collective bargaining agreements.

FCA CEO Sergio Marchionne says the company should adjust its manufacturing footprint to reflect "improvement in the US business environment". He says employees should also share in the tax savings.

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