FCA To Invest $1B In Michigan Plant, Pay Out Bonuses

President Donald Trump speaks during a prison reform roundtable in the Roosevelt Room of the Washington Thursday Jan. 11 2018

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

The plan includes a total of 60,000 workers, excluding senior leadership.

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.

FCA said its Saltillo Truck Assembly Plant will be repurposed to produce future commercial vehicles for global distribution.

This investment is on top of the $1 billion the OEM committed to invest in the Warren factory previous year to accommodate its Jeep product line, which included building its all-new Jeep Wagoneer and Grand Wagoneer. Wal-Mart Stores Inc. said earlier Thursday it will boost wages to $11 an hour and also give as much $1,000 bonuses to employees after Trump and Congress cut the USA corporate tax rate to 21 percent from 35 percent late a year ago. Some of that money was earmarked for Warren, where FCA said it plans to start making the Jeep Wagoneer and Grand Wagoneer by 2020.

The special bonus will be paid to all eligible employees of FCA's automotive and components operations in the U.S.

Ivanka Trump praises Oprah's Golden Globes speech-Twitter goes in
She continued, "For too long, women have not been heard or believed if they dared to speak their truth to the power of those men". Taking to her Twitter feed on Monday night, Ivanka Trump tweeted her thoughts about Oprah's speech and made sure to give praise.

Fiat/Chrysler says the tax plan will also mean the return of manufacturing jobs to the USA from Mexico.

This is big business news for MI, although Fiat Chrysler isn't actually moving a plant here like the President just wrote, instead its moving production of its Ram trucks from Mexico to Warren.

"These announcements reflect our ongoing commitment to our US manufacturing footprint and the dedicated employees who have contributed to FCA's success", Marchionne said. He says employees should also share in the tax savings. More than 300 new jobs were added to support production.

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.

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

Latest News