Fiat Chrysler to move plant from Mexico to MI, pay out bonuses

Ram Truck Manufacturing Coming Home to Michigan

Ram Truck Manufacturing Coming Home to Michigan

Wal-Mart Stores Inc. said earlier Thursday it will boost wages to $11 an hour and also give as much $1,000 bonuses to employees after Trump and Congress cut the US corporate tax rate to 21 percent from 35 percent late past year.

The investment announcement comes a year after Fiat Chrysler revealed initial plans to invest in Warren for the launch of the new Jeep Wagoneer and Grand Wagoneer.

- Fiat Chrysler Automobiles, said on Thursday that it planned to spend $1 billion to move production of heavy-duty pickup trucks from Mexico to a factory in MI, where it will add 2,500 new jobs as a result. At that time, FCA said it would spend $1 billion across two plants: Warren and Toledo where retooling is needed to make a new Jeep Wrangler pickup.

The move is expected to create more than 2,500 jobs in the Detroit area by 2020. Trump reiterated a threat to pull out of the trade accord on Thursday, a day after Canadian officials said they viewed the odds of withdrawal as rising.

The Italian-American automaker will pay each USA hourly and salaried employee a $2,000 bonus in the second quarter of 2018. Most recently, the Company announced investments totaling $3.5 billion, with the addition of 3,700 new jobs, to strengthen its US manufacturing base, and align USA capacity to extend the Jeep and Ram product lines.

"These announcements reflect our ongoing commitment to our USA manufacturing footprint and the dedicated employees who have contributed to FCA's success", CEO Sergio Marchionne says in a statement.

The company says it would invest the money into its plant in Warren, and move production of its Ram Heavy Duty Trucks out of Mexico.

FCA said Thursday the plant expansion and special payments were made possible in part by USA tax reform passed late previous year that will reduce the company's corporate tax bill.

The plant investment actions announced today are subject to the negotiation and final approval of incentives by state and local entities. In the process, it will add 2,500 jobs. He says employees should also share in the tax savings.

$1.5 billion in the Sterling Heights Assembly Plant (Michigan) to build the next-generation Ram 1500 truck.

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