Saturday, 20 January, 2018

Ram Truck Manufacturing Coming Home to MI

FCA Spending Tax Savings On Plants $2K Bonus For U.S. Employees Ram Truck Manufacturing Coming Home to MI
Conrad Doyle | 14 January, 2018, 11:44

The CEO said the company has five plants and nearly 10,000 employees in the region and that repurposing the plant to manufacture the new vehicle will attract additional investment.

President Donald Trump responded to the move on Twitter.

The company also said it'll give a $2,000 bonus to 60,000 of its US employees.

The late Thursday FCA announcement came a day after Toyota and Mazda said they'd join forces in building a $1.6 billion auto factory in Alabama. "Chrysler is moving a massive plant from Mexico to MI, reversing a years long opposite trend", the President tweeted.

The company said the move solidifies the U.S.as a manufacturing hub for Ram vehicles.

60,000 of FCA will also be receiving a one-time $2,000 bonus.

FCA Toledo Assembly Complex

Fiat Chrysler Automobiles will invest $1 billion to modernize its Warren Truck Assembly Plant, adding more than 2,500 new jobs ahead of a planned switch in Ram Heavy Duty truck production to MI from Mexico in 2020. The Company operates under the Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia and Ram brands.

Warren Truck now builds the latest Ram 1500 pickup, although production of next year's truck will move to Sterling Heights Assembly Plant, which is also in MI.

It is proper that the company's employees are able to share in the tax reform savings and that we acknowledge openly and the improvement in the business environment in the U.S.by investing accordingly in our industrial footprint, said the automaker's CEO Sergio Marchionne through a press release. That investment is also expected to be completed by 2020. Finally, Jefferies Group LLC set a $11.00 price objective on Fiat Chrysler Automobiles N.V. and gave the company a buy rating in a research note on Thursday, January 12th. "This is an wonderful statement".

Friday I reported that stock funds brought in $24-B in the 1st week of Y 2018, marking the 6th-biggest inflow ever and the most in at 6 months. "Since 2010, we are now approaching $10 billion from the vehicle companies and their supply base".

Most recently, the company announced investments totaling $3.5 billion, with the addition of 3,700 new jobs, to strengthen its United States manufacturing base, and align U.S. capacity to extend the Jeep and Ram product lines.

The Warren Truck Assembly Plant now builds the Ram 1500 and it has done so for decades, but half-ton Ram truck production is being shifted over to the Sterling Heights Assembly Plant. Fiat Chrysler increased Mexican production by about 40% in 2017 compared with 2016, according to WardsAuto.com building 626,000 trucks in Mexico, or 27% of its entire North American production volume.

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