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Fiat Chrysler Automobiles (FCA) has announced it plans to invest over US$1 billion in two different U.S assembly plants.
The investment concerns FCA’s assembly plants in Illinois and Ohio, U.S, to boost production of high-margin Jeep SUVs and support the future growth of the Jeep brand.
The Belvidere Assembly Plant, IL, is to receive US$350 million and 300 new workers to manufacture the Jeep Cherokee, which will move from its current location in Toledo, Ohio, in 2017. The production of Dodge Dart and the Jeep Compass/Jeep Patriot is to end in September and December 2016, respectively.
FCA also announced it will invest US$700 million in Toledo, OH, to upgrade the North plant, so it can receive the next generation of Jeep Wrangler, creating approximately 700 new jobs.
Jeep is the driver behind FCA’s relentless upward sales trend. In June 2016, the brand reported a 17% growth in the U.S. market, its 33rd consecutive month of year-over-year gains, representing 42.5% of the company’s total sales in the region.
In early 2016, Sergio Marchionne, CEO, FCA, announced the decision to end production of the Chrysler 200 and Dodge Dart which are slow selling sedans to concentrate on SUVs, crossovers and trucks. The company is said to consider partnering with another manufacturer to share the output.
Source: Inautonewscomments powered by Disqus