Fiat Chrysler to invest $1 billion in MI - adding 2'500 new jobs

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Separately, the Euro-American automaker announced plans to pay $2,000 bonuses to 60,000 US hourly and salaried employees this coming spring.

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 investing accordingly in our industrial footprint, said the automaker's CEO Sergio Marchionne through a press release.

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

The move underscores a strengthening USA business climate stemming from the tax code overhaul, Fiat Chrysler officials said. Other companies, including AT&T, Comcast and Bank of America have announced $1000 bonuses because of the tax cut, according to a list compiled by USA Today.

Fiat Chrysler chief executive Sergio Marchionne a year ago raised the possibility that the automaker would move production of its heavy-duty pickups to the United States, saying tax and trade policy would influence the decision. "Thank you Chrysler, a very wise decision". The voters in MI are very happy they voted for Trump/Pence.

Fiat Chrysler is recalling more than 162,000 of its Pacifica minivans worldwide over a software glitch that could cause the vehicles to stall while driving.

Chrysler raised its output in Mexico by 39 percent previous year to 639,000 vehicles, according to Mexican government data. Trump reiterated a threat to pull out of the trade accord on Thursday, a day after Canadian officials said they viewed the odds of withdrawal as rising. The payment will be made in the second quarter and is being paid in addition to profit-sharing or performance bonus payments.

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Fiat Chrysler said it does not plan to shut the Saltillo plant, but declined to comment on which models will be made in Saltillo after Ram production moves north. Fiat Chrysler is expected to unveil an all-new Ram 1500 pickup at the Detroit show Monday.

Fiat Chrysler announced a year ago that it would invest in its Warren, Michigan, factory to produce the Jeep Wagoneer and Grand Wagoneer SUVs and that the plant would be able to make the bigger Ram trucks.

The Ram move should be complete by 2020.

"I'm just elated at this news", Macomb County Executive Mark Hackel said.

Hackel says this is "another add-on" to the roughly $10 billion automakers and suppliers have invested in Macomb County since 2010.

"It's all taking off here in Macomb County", Hackel said. "This is an incredible statement". Companies are coming back to the U.S. in a very big way.

Modernizing the MI plant will cost the company $1 billion.