Fiat Chrysler to invest US$1 billion in Michigan plant, add 2,500 jobs

Fiat Chrysler to invest US$1 billion in Michigan plant, add 2,500 jobs

Fiat Chrysler Automobiles NV said on Thursday it would invest more than US$1 billion in its Michigan plant and add 2,500 jobs as it benefits from the overhaul of the U.S. tax code.

File photo of the Chrysler Warren Truck Assembly sign in front of the Fiat Chrysler Automobiles (FC
FILE PHOTO: A Chrysler Warren Truck Assembly sign is seen in front of the Fiat Chrysler Automobiles (FCA) plant in Warren, Michigan October 7, 2015. REUTERS/Rebecca Cook/File Photo - RC191D574F80

REUTERS: Fiat Chrysler Automobiles NV said on Thursday it would invest more than US$1 billion in its Michigan plant and add 2,500 jobs as it benefits from the overhaul of the U.S. tax code.

The company said it would spend the money to modernize the Warren Truck Assembly Plant in Michigan to produce its Ram Heavy Duty trucks.

The company will relocate the truck's production from its current location in Saltillo, Mexico, to the Michigan plant in 202O.

The car maker also said it would make a special bonus payment of US$2,000 to about 60,000 FCA hourly and salaried employees in the United States.

(Reporting by Uday Sampath in Bengaluru; Editing by Maju Samuel)

Source: Reuters

Bookmark