Stellantis Unveils $13B U.S. Investment To Boost U.S. Production

Benzinga

Stellantis will invest $13B to expand U.S. manufacturing, boost output 50%, and add 5,000 jobs. CEO Antonio Filosa’s plan targets new vehicles and plant upgrades across 14 states as the automaker works to revive U.S. sales.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Stellantis said Tuesday will invest $13 billion in U.S. manufacturing over the next four years

00:07to boost domestic output by 50% and add 5,000 jobs, according to CNBC.

00:12The plan, as part of CEO Antonio Filosa's U.S. turnaround strategy,

00:16include new vehicles for plants in Michigan, Illinois, Indiana, and Ohio through 2029.

00:21Filosa said its top priority since taking over in June has been expanding Stellantis' presence

00:25in its largest market, the United States.

00:27The company's plan spans most of its 34 U.S. facilities across 14 states,

00:32which collectively employ over 48,000 workers.

00:35Stellantis' U.S. sales peaked in 2018 and have since fallen by 42%.

00:39Shares rose over 5% in after-armers trading on Tuesday, but remained down 24% for the year.

00:44For all things money, visit Benzinga.com.

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