Stellantis Set To Invest $10 Billion In The United States

Stellantis plans to invest $10 billion in the United States to strengthen its presence in a key market and mitigate the effects of tariffs imposed by President Donald Trump.

The funds will be directed to reopening factories and hiring and developing new models in the states of Illinois and Michigan, the sources added. Stellantis CEO Antonio Filosa, who took office in May, is trying to refocus investments on the American market, which is crucial for the company’s profitability.

According to the sources, the new investments could also include additional projects for the Dodge and Chrysler brands, including the development of a new model of the Dodge V8 sports car.

According to the auto industry, Stellantis wants to reach out to President Trump’s administration and reduce the impact of the new 25 percent US tariffs on vehicles made in Mexico.

The company is having problems with sales in Europe and recently announced the temporary suspension of production in several of its factories on the Old Continent to adapt to weaker demand on the market, “Figaro” reported.

The company first announced that it would suspend production at its factory in the French city of Poissy for three weeks in October due to “unfavorable conditions” in the European market, and 2,000 employees would work reduced hours.

In addition, Stellantis is also limiting production at locations in Germany, Italy, Poland, and Spain.

• Also See: Stellantis Temporarily Shuts Down Plants In France And Italy