Fiat Chrysler to move plant from Mexico to Michigan, pay out bonuses

Mae Love
January 14, 2018

Several companies have made announcements of employee bonuses in hikes in minimum age since the Republican-controlled Congress passed tax reform legislation in December.

President Donald Trump soon after the announcement hailed the move on Twitter as "more great news as a result of historical Tax Cuts and Reform".

Fiat Chrysler will not close its Mexico plant.

Over the past 50 days, Fiat Chrysler Automobiles N.V. stock's -0.21% off of the high and 39.35% removed from the low.

President Donald Trump has just posted on Twitter that "the voters in MI are very happy they voted for Trump/Pence". "Plenty of more to follow!"

Modernizing the MI plant will cost the company $1 billion. The company's USA -listed shares have surged 31 percent already this year after nearly doubling in 2017. They would just like to know what's tomorrow.

FCA, like Ford and GM, will soon announce profit-sharing bonuses for hourly employees. Approximately 60,000 employees will receive a $2000 bonus in the 2nd quarter of 2018, including employees at the Belvidere Assembly plant according to a FCA spokesperson.

Those investments and related actions involving production shifts at three plants in Illinois, Ohio, and MI to gain capacity for the Jeep Cherokee, Jeep Wrangler, and Ram Light Duty truck, and the introduction of three new Jeep models at plants in Ohio and MI.

Chrysler Pacifica

File picture shows the Chrysler Pacifica being introduced as the 2017 Utility Vehicle of the Year during the North American International Auto Show in Detroit, Michigan, January 9, 2017.

The shares could go higher still as investors become more aware of Fiat Chrysler's efficient transition to the new Wrangler and Ram models, Barclays' Johnson said.

Meanwhile, Toyota Motor Corp and Mazda Motor Corp on Wednesday announced they would build a new US$1.6 billion joint venture auto assembly plant in Alabama, drawing praise from Trump.

The Ram move should be complete by 2020.

"It's all taking off here in Macomb County", Hackel said. "This is an awesome statement".

FCA has invested $10 billion in its US manufacturing operations since June 2009.

As a result, the firm's Mexico plant, where the production of such vehicles now occurs, will be repurposed, instead being used to develop and produce future Fiat Chrysler commercial vehicles for global sale.

The company also noted that it has invested some $10 billion in its US 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.

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