Fiat Chrysler to invest more than $1 billion in Michigan plant and give $2,000 bonuses in response to tax reform
Fiat Chrysler announced Thursday that it will up its investment in the United States and pay some of its employees special bonuses after the recent tax code overhaul.
CEO Sergio Marchionne said in a statement that these announcements reflect the company's ongoing commitment to manufacturing in the U.S. He also cited the recently signed tax bill as an opportunity to share the savings with Fiat Chrysler employees.
The automaker said it will invest more than $1 billion in a Michigan plant and relocate production of its Ram Heavy Duty truck in 2020. That model is currently being produced in Saltillo, Mexico.
Fiat Chrysler said this decision would create about 2,500 jobs in addition to the ones that have been previously announced.
The company said it will also pay 60,000 of its U.S. employees bonuses of $2,000 each. Fiat Chrysler said these bonuses would not include senior leadership.
This story is developing. Please check back for updates.