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Investing.com -- Stellantis NV (NYSE:STLA) stock surged 8% in after-hours trading Tuesday following the automaker’s announcement of a $13 billion investment in its U.S. operations over the next four years, marking the largest single investment in the company’s 100-year history in the country.
The multinational automaker plans to expand its U.S. production capacity by 50% with five new vehicle launches and 19 product updates through 2029. The investment is expected to create more than 5,000 new jobs across manufacturing facilities in Illinois, Ohio, Michigan, and Indiana.
A significant portion of the investment will go toward reopening the Belvidere, Illinois plant with over $600 million allocated to expand production of Jeep Cherokee and Compass models. The company will invest nearly $400 million to move production of an all-new midsize truck to its Toledo, Ohio facility, potentially creating more than 900 jobs.
In Michigan, Stellantis plans to develop and produce an all-new range-extended EV and internal combustion engine large SUV at its Warren Truck Assembly Plant, investing nearly $100 million and adding over 900 jobs. The Detroit Assembly Complex will receive $130 million to prepare for production of the next-generation Dodge Durango.
"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," said Antonio Filosa, Stellantis CEO and North America COO.
The company’s Indiana facilities in Kokomo will receive more than $100 million to produce the all-new GMET4 EVO four-cylinder engine starting in 2026, adding over 100 jobs.
Stellantis currently operates 34 manufacturing facilities, parts distribution centers, and R&D locations across 14 U.S. states, supporting approximately 48,000 employees and 2,600 dealers.