Stellantis has announced a historic $13 billion investment aimed at expanding its manufacturing operations in the United States, creating thousands of jobs and launching new vehicle models.
Automaker Stellantis has unveiled a significant investment of $13 billion as part of its strategy to enhance its manufacturing capabilities in the United States. This investment marks the largest in the company’s 100-year history and is expected to increase U.S. production by 50% over the next four years.
As part of this ambitious plan, Stellantis will introduce five new vehicle models by 2029, alongside the creation of approximately 5,000 new jobs across the country. The investment will focus on expanding production facilities in key states including Illinois, Ohio, Michigan, and Indiana.
Among the initiatives included in the investment is the development of a new four-cylinder engine, as well as the reopening of the Belvidere Assembly Plant in Illinois. This facility will facilitate the increased production of popular models such as the Jeep Cherokee and Jeep Compass for the U.S. market.
Notably, this investment diverges from previous multi-billion-dollar commitments that primarily emphasized electrification. One of the new vehicles will be a range-extended electric vehicle (EV), set to be produced at the Warren Truck Assembly Plant in Michigan starting in 2028.
The remaining new products in the pipeline include a next-generation Dodge Durango, which will be manufactured at the Detroit Assembly Complex in 2029, and a new midsize truck that will be assembled at the Toledo Assembly Complex in Ohio. Additionally, the all-new four-cylinder engine, designated as the GMET4 EVO, is slated to begin production in 2026 at the Kokomo, Indiana factory.
Antonio Filosa, CEO and North America COO of Stellantis, emphasized the importance of this investment for the company’s growth and manufacturing presence in the U.S. He stated, “Accelerating growth in the U.S. has been a top priority since my first day. Success in America is not just good for Stellantis in the U.S. — it makes us stronger everywhere.”
This announcement comes in the wake of tariffs that have made imports from regions such as Mexico, Canada, and Europe, where Stellantis also operates facilities, increasingly costly. Former President Donald Trump had advocated for a greater focus on domestic auto manufacturing.
Following the announcement, Stellantis stock experienced a notable increase, rising over 5% in after-hours trading, with shares maintaining a 1% gain during midday trading on Wednesday.
This investment follows the departure of former CEO Carlos Tavares last year, as Stellantis faced challenges with bloated inventory and rising prices in its U.S. operations. Earlier this year, General Motors made a similar commitment, announcing a $4 billion investment to bolster its own U.S. manufacturing capabilities.
Source: Original article