Nvidia and TSMC to unveil first domestic wafer for Blackwell chips, Axios reports
Investing.com -- Stellantis shares rose Wednesday, a day after the automaker said it will invest $13 billion to expand manufacturing in the United States, marking the largest spending commitment in the company’s century-long history.
The owner of Jeep, Dodge and Ram plans to boost U.S. production by 50% through five new vehicle launches and the creation of 5,000 jobs over the next four years.
The move comes after the White House introduced sweeping tariffs that made importing vehicles from facilities in Mexico, Canada and Europe more costly. President Trump has repeatedly said he wants more car production brought back onto U.S. soil.
Stellantis shares gained 2.4% in Milan as of 09:20 GMT.
“This investment in the U.S. — the single largest in the company’s history — will drive our growth, strengthen our manufacturing footprint and bring more American jobs to the states we call home,” CEO Antonio Filosa, who also serves as North America COO, said.
“Accelerating growth in the U.S. has been a top priority since my first day,” he added.
The funds will be spread across plants in Illinois, Ohio, Michigan and Indiana.
In Illinois, Stellantis will spend $600 million to reopen the Belvidere Assembly Plant by 2027, reviving production of the Jeep Cherokee and Jeep Compass. The facility was shut in 2023 after the prior Cherokee model was discontinued, sparking tension with the United Auto Workers union.
Ohio’s Toledo plant will receive $400 million to build a new midsize truck alongside the Jeep Wrangler and Gladiator, a move expected to add 900 jobs by 2028.
In Michigan, the Warren Truck Assembly Plant will get $100 million for upgrades to produce a new hybrid range-extended EV and a gas-powered SUV, also adding 900 positions on a similar timeline.
Additional investment will go toward Detroit Assembly for the next-generation Durango and into engine development at Kokomo, Indiana, with related R&D and supplier spending planned through the rollout period.