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Stellantis says it will invest $13 billion over the next four years to expand its manufacturing capacity in the United States, a move that the automaker says will increase its domestic vehicle production by 50% and add more than 5,000 jobs.
The world's fourth-largest carmaker said Tuesday the investment will support the introduction of five new vehicles, including a Dodge Durango to be built in Detroit and a midsize truck to be assembled in Toledo, Ohio. The new jobs will be spread across plants in Illinois, Ohio, Michigan and Indiana.
Stellantis, which was created 4½ years ago from the merger of Fiat Chrysler and PSA Peugeot, is hoping to counteract some of the expected 1.5 billion-euro ($1.7 billion) cost of tariffs this year on cars produced in Canada and Mexico by boosting North American profitability with new model launches like the discontinued Jeep Cherokee.
The new product launches will be in addition to 19 "refreshed" products across all U.S. assembly plants and updated powertrains planned through 2029, the company said.
"This investment in the US — 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 said in a statement.
Stellantis' operations in the US include 34 manufacturing plants, parts distribution centres and research and development sites across 14 states.
Of the 16 million cars Stellantis produces for sale in the US market, 8 million are made in domestic plants, and another 4 million in Canada and Mexico — all with a large number of US components. Another 4 million are imported from Europe and Asia, with virtually no US components.
In pursuit of a US turnaround, Filosa is also relaunching in the second half of 2025 models that previous management nixed two years ago: a new Jeep Cherokee, which will be produced in Mexico and the popular ICE Dodge Charger.
Earlier this year, Stellantis also relaunched the Ram Hemi V8 because of dealer and customer demand.
In July, the Netherlands-based automaker reported half-year results that included losses of 2.3 billion euros (nearly $2.7 billion). During the period, US shipments were down by nearly a quarter as the carmaker reduced the importation of vehicles produced abroad.
Shares in Stellantis fell sharply in after-hours trading after closing 4.8% lower during regular trading on Tuesday.
The world's fourth-largest carmaker said Tuesday the investment will support the introduction of five new vehicles, including a Dodge Durango to be built in Detroit and a midsize truck to be assembled in Toledo, Ohio. The new jobs will be spread across plants in Illinois, Ohio, Michigan and Indiana.
Stellantis, which was created 4½ years ago from the merger of Fiat Chrysler and PSA Peugeot, is hoping to counteract some of the expected 1.5 billion-euro ($1.7 billion) cost of tariffs this year on cars produced in Canada and Mexico by boosting North American profitability with new model launches like the discontinued Jeep Cherokee.
The new product launches will be in addition to 19 "refreshed" products across all U.S. assembly plants and updated powertrains planned through 2029, the company said.
"This investment in the US — 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 said in a statement.
Stellantis' operations in the US include 34 manufacturing plants, parts distribution centres and research and development sites across 14 states.
Of the 16 million cars Stellantis produces for sale in the US market, 8 million are made in domestic plants, and another 4 million in Canada and Mexico — all with a large number of US components. Another 4 million are imported from Europe and Asia, with virtually no US components.
In pursuit of a US turnaround, Filosa is also relaunching in the second half of 2025 models that previous management nixed two years ago: a new Jeep Cherokee, which will be produced in Mexico and the popular ICE Dodge Charger.
Earlier this year, Stellantis also relaunched the Ram Hemi V8 because of dealer and customer demand.
In July, the Netherlands-based automaker reported half-year results that included losses of 2.3 billion euros (nearly $2.7 billion). During the period, US shipments were down by nearly a quarter as the carmaker reduced the importation of vehicles produced abroad.
Shares in Stellantis fell sharply in after-hours trading after closing 4.8% lower during regular trading on Tuesday.
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