In one, he wrote, "More great news as a result of historical Tax Cuts and Reform: Fiat Chrysler announces plan to invest more than $1 BILLION in MI plant, relocating their heavy-truck production from Mexico to MI, adding 2,500 new jobs and paying $2,000 bonus to USA employees!"
The move comes following a recent tax code overhaul across the United States, with Fiat Chrysler viewing the move as a way of protecting its profits should President Donald Trump pull the U.S. from the North American Free Trade Agreement (NAFTA) completely.
Reportedly, this is the second among the decisions made by an automobile giant to move its vehicle manufacturing plant to the US since the last few days.
Before a March 2017 speech in Ypsilanti, Trump told Jim Lentz, chief executive of Toyota North America, "You have to build plants here". They would just like to know what's tomorrow. The payment will be made in the second quarter and is being paid in addition to profit-sharing or performance bonus payments. He said a "spillover" effect will likely mean new homes being constructed, along with the city's plans to build a mini-City Hall in the Nine Mile-Van Dyke area.
At that time, officials noted that the Warren investment would make it easier to move Ram production to MI in the future if necessary but said no such decision had been made. The automaker has retooled the nearby Sterling Heights Assembly Plant to handle the all-new 2019 Ram 1500 light-duty version of its full-size pickup.
This new $1 billion investment is in addition to an announcement made in January 2017 which committed to spending a portion of another $1 billion in the Warren Truck Assembly facility to expand the Jeep product line - that brand will see the return of the Jeep Wagoneer and Grand Wagoneer soon. Like Thursday's announcement, the action is expected to be completed by 2020. It emphasized that 2,500 jobs will be created, beyond ones announced last January. "This is an fantastic statement".
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Other automakers have built last-generation models and new-generation models at separate facilities to reduce plant downtime, and have offered the older models at discounted or fleet prices during production overlaps.
The company since June 2009 has invested $10 billion in USA plants. More than 700 new jobs will be added to support production, the company noted.