TLDR
- Stellantis announced a $13 billion investment in US operations over four years, the largest in the company’s 100-year history in America.
- The investment will increase US production capacity by 50%, launch five new vehicles, and create more than 5,000 new jobs.
- The Belvidere, Illinois plant will reopen with over $600 million allocated to produce Jeep Cherokee and Compass models after closing in 2023.
- Toledo, Ohio will receive nearly $400 million to build a new midsize truck, creating more than 900 jobs by 2028.
- The expansion includes investments across Illinois, Ohio, Michigan, and Indiana facilities, with production changes planned through 2029.
Stellantis revealed plans Tuesday to invest $13 billion in its US operations over the next four years. The investment represents the largest single commitment in the automaker’s 100-year history in America.
The company plans to increase US production capacity by 50% through 2029. Five new vehicle launches and 19 product updates will roll out during this period.
The expansion will create more than 5,000 new jobs across four states. Facilities in Illinois, Ohio, Michigan, and Indiana will receive the bulk of the funding.
Stellantis stock jumped 8% in after-hours trading following the announcement. The shares had closed regular trading down 2.56% at $9.91.
CEO Antonio Filosa emphasized the investment’s importance to the company’s growth strategy. “This investment in the US will drive our growth, strengthen our manufacturing footprint and bring more American jobs to the states we call home,” Filosa said.
Illinois Plant Returns to Life
The Belvidere, Illinois assembly plant will receive over $600 million to reopen by 2027. The facility closed in 2023 when production of the previous Jeep Cherokee ended.
The plant closure sparked heated disputes with the United Auto Workers union. Union leaders accused former CEO Carlos Tavares of deceiving them about the plant’s future.
Jeep Cherokee and Compass production will move to the reopened facility. The investment marks a turnaround for a plant that symbolized Stellantis’ struggles under previous leadership.
New Trucks Coming to Ohio
Toledo’s assembly plant will get nearly $400 million for a new midsize truck. The vehicle will be built alongside the Jeep Wrangler and Gladiator models.
This investment will create more than 900 jobs by 2028. The Toledo facility already plays a key role in Stellantis’ Jeep production.
Michigan’s Warren Truck Assembly Plant will receive nearly $100 million for retooling. The plant will produce a new hybrid range-extended EV and a gas-powered SUV.
Warren currently builds the Jeep Wagoneer and Grand Wagoneer. The facility will add more than 900 jobs with production starting in 2028.
The Detroit Assembly Complex gets $130 million to prepare for next-generation Dodge Durango production. Indiana’s Kokomo facilities will receive over $100 million for new engine development.
Kokomo will produce the new GMET4 EVO four-cylinder engine starting in 2026. This investment will create more than 100 jobs at the Indiana location.
The investment comes after White House tariff actions made imports from Mexico, Canada, and Europe more expensive. President Trump has pushed for increased domestic auto manufacturing.
Filosa took over as CEO following Tavares’ surprise dismissal late last year. Stellantis’ US operations had struggled with bloated inventory and higher vehicle prices under the previous leadership.
General Motors announced a similar move earlier this year with a $4 billion commitment to US manufacturing. Stellantis’ investment dwarfs that figure by more than three times.
Stellantis currently operates 34 manufacturing facilities across 14 US states. The company employs approximately 48,000 workers and supports 2,600 dealers nationwide.
The post Stellantis (STLA) Stock: Automaker Announces $13 Billion US Manufacturing Investment appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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