💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Fiat Chrysler to invest over $1 billion in Ohio, Illinois plants

Published 07/14/2016, 06:00 PM
Updated 07/14/2016, 06:10 PM
© Reuters. Fiat logo is seen on a Fiat vehicle displayed outside Chrysler World Headquarters during the FCA Investors Day in Auburn Hills

(Reuters) - Fiat Chrysler Automobiles NV said it would invest more than $1 billion in its assembly plants in Illinois and Ohio to retool them to boost production of its Jeep Cherokee and Wrangler.

The automaker will invest $350 million in its assembly plant in Belvidere, Illinois to produce Jeep Cherokee. The SUV's production will move to the plant from its current location in Toledo, Ohio, in 2017.

The company will invest $700 million in its Toledo facility to prepare the north plant to produce redesigned Jeep Wrangler, Fiat Chrysler said.

© Reuters. Fiat logo is seen on a Fiat vehicle displayed outside Chrysler World Headquarters during the FCA Investors Day in Auburn Hills

Sales of Fiat Chrysler's Jeep brand rose 17 percent in June and accounted for 42.5 percent of the company's total U.S. sales.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.