Separately, the Euro-American automaker announced plans to pay $2,000 bonuses to 60,000 US hourly and salaried employees this coming spring. Apparently, the bonus amount will be rolled out in the second quarter of this year in surplus of performance-related & profit-sharing bonuses.
The transition from Mexico to MI will happen by 2020, FCA said.
The all-new 2019 Ram 1500 will make its debut at the North American International Auto Show in Detroit next Monday. For the next year, analysts anticipate that the company will post earnings of $2.86 per share, with EPS estimates ranging from $2.29 to $3.59.
"Wow! Wow, that's great".
Fiat Chrysler Automobiles Mexico spokesman Miguel Ceballos said there was no plans to either reduce or grow the workforce in Mexico. "A lot of these people who've been putting time in and working will be getting hired and getting full-time positions", Farquhar said. He likewise has slammed automakers for moving jobs and investment in new production facilities to Mexico and prodded them to include more automobile production in the United States.
That $3.5 billion investment and related actions involved production shifts at three plants in Illinois, Ohio and MI to gain capacity for the Jeep Cherokee, Jeep Wrangler and Ram Light Duty truck, as well as the introduction of three new Jeep models at plants in Ohio and MI. That's part of a broader plan that included shifting Jeep Cherokee production from Toledo to Belvidere, Ill.
Fiat Chrysler will be moving the production of its Ram heavy-duty truck from Mexico to MI and giving its workforce a substantial bonus due to tax reform.More news: No impact on tax, consulting: Price Waterhouse
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The Saltillo plant will be repurposed for production of future commercial vehicles for global distribution.
FCA has been retooling some US factories to boost output of SUVs and trucks while ending production of some sedans to boost profitability in North America, its biggest market.
"Most such events known to FCA US reportedly occurred at idle or while starting, turning, or driving at low, steady speeds", the automaker said.
The stock jumped more than 20 percent last week on a bullish outlook for the auto sector and media speculation that Chief Executive Sergio Marchionne's final year at the helm could prompt strategic deals such as spin-offs, technology alliances and disposals.
Mexico's auto industry association reported that the country exported more than 276,000 Ram Heavy Duty trucks in 2017, with almost 90% coming to the United States.
"Macomb County has become Dodge Ram country", Hackel said. In the process, it will add 2,500 jobs.
President Donald Trump and Vice President Mike Pence both praised and touted the announcement on Twitter Thursday, as they have with other recent moves that brought some automotive production back from Mexico.