Stellantis bets on the United States. The car manufacturer (Jeep, Chrysler, Citroën, Alfa Romeo, Peugeot, etc.) announced on Tuesday, October 14, that it intended to invest $13 billion over the next four years in Donald Trump’s country, which should allow it to increase its production by 50% compared to the current level.
According to a press release, it intends to launch five new vehicles and undertake “nineteen actions” in terms of its products between now and 2029, thus creating more than 5,000 jobs in factories in Illinois, Ohio, Michigan and Indiana.
The group specifies that this is the largest single investment in its 100-year history.
United States, priority of the new boss Antonio Filosa
Born from the merger between Peugeot-Citroën and Fiat Chrysler in 2021, the group plans, among other things, to relaunch the Belvidere (Illinois) plant in 2023, which was a major point of friction during the negotiations on the social agreement between the three big car manufacturers, also Ford and General Motors.
An agreement was reached between management and the unions, later validated by members, after a “historic strike” of more than six weeks.
“Accelerating growth in the United States has been my top priority from day one,” Antonio Filosa, who took the reins of the group in June, six months after the overthrow of Carlos Tavares, commented in the statement.
The $13 billion allocation includes research and development expenses, supply costs and financing for production tools.
In electronic trading after the close of the New York Stock Exchange, Stellantis shares rose 5.48%, after ending the session with a drop of 2.56%.
Source: BFM TV
