FCA to invest 4.5 bn in Michigan, new Detroit plant

(ANSA) - Turin, February 26 - Fiat Chrysler Automobiles (FCA) is to spend 4.5 billion dollars to build a new plant in Detroit and boost the output of five existing plants creating almost 6,500 jobs, the Italo-American carmaker said Tuesday.
    The investments will boost the growth of the Jeep and Ram marques and the electrification of Jeep vehicles, it said.
    The amount of investments made by FCA in the US since 2009 this rises to almost 14.5 billion dollars with the creation of almost 30,000 jobs.
    "Three years ago, FCA set a course to grow our profitability based on the strength of the Jeep and Ram brands by realigning our U.S. manufacturing operations," said Mike Manley, FCA's Chief Executive Officer.
    "Today's announcement represents the next step in that strategy. It allows Jeep to enter two white space segments that offer significant margin opportunities and will enable new electrified Jeep products, including at least four plug-in hybrid vehicles and the flexibility to produce fully battery electric vehicles." The city of Detroit has 60 days to meet the terms of a Memorandum of Understanding, which requires the acquisition of property critical to the execution of the Mack project. The additional investments are subject to the successful negotiation and final approval of development packages with the state and other local governments.