New Ram HD Confirmed For 2020, Will Be Built In The US

Jeannie Matthews
January 14, 2018

Morgan Stanley set a €16.00 ($19.05) target price on shares of Fiat Chrysler Automobiles and gave the stock a buy rating in a research report on Thursday, October 26th.

News of the investment follows similar announcements from just over a year ago, when Fiat Chrysler said part of a $1 billion investment in MI and OH would go to Warren Assembly to produce the all-new Jeep Wagoneer and Grand Wagoneer. FCA pledged to invest more than $5.3 billion in plants across America to guarantee more union jobs as part of the agreement.

The company is also making a special bonus payment of $2,000 to approximately 60,000 FCA hourly and salaried employees in the USA, excluding senior leadership.

On Wednesday, Toyota Motor and Mazda Motor announced they would construct a new $1.6 billion joint venture auto assembly plant in Alabama, drawing praise from Donald Trump.

The company said the move solidifies the U.S.as a manufacturing hub for Ram vehicles.

Fiat Chrysler divulged his plans to overhaul the plant in Warren, Mich., on the run up to the North American International Auto Show in Detroit, which opens to the media and industry visitors on Sunday. FCA said this was on top of a large investment at the Warren factory announced previous year. "Thank you Chrysler, a very wise decision". He likewise has slammed automakers for moving jobs and investment in new production facilities to Mexico and prodded them to include more automobile production in the United States.

The decision to put the Ram HD pickup in Warren is the latest in a series of moves by Fiat Chrysler to enhance its truck production while cutting back on passenger vehicle output. After dealers and Chrysler engineers failed to pinpoint a problem, some customers called on the automaker to buy the minivans back, and the company came under pressure to determine whether a serious safety defect existed.

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60,000 of FCA will also be receiving a one-time $2,000 bonus.

Bonuses will be paid in the second quarter this year in addition to profit sharing and/or performance bonuses. That investment is also expected to be completed by 2020.

"Macomb County has become Dodge Ram country", Hackel said.

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

"This is unbelievable", Hackel said. We are basically Ram county now. That's where the $1 billion plant investment comes in, billed as a modernization of the MI facility. The $1 billion investment in the Warren plant announced yesterday is in addition to the earlier announced $1 billion.

Alabama's total incentive package to Toyota and Mazda is to top US$700 million after local incentives are added to what the state offered to land the companies' new U.S. factory. Approximately 700 new jobs will be added to support production.

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