AUBURN HILLS, MICH. — Automaker Stellantis (NYSE: STLA), parent company of brands including Jeep, Dodge and Ram, has unveiled plans to invest $13 billion over the next four years to grow its business in the U.S. market and increase its domestic manufacturing footprint. The investment, the largest in the company’s 100-year U.S. history, will support the introduction of five new vehicles across the brand portfolio; production of the all-new four-cylinder engine; and the addition of more than 5,000 jobs at plants in Illinois, Ohio, Michigan and Indiana.
Stellantis says the investment will increase its annual finished vehicle production in the United States by 50 percent over current levels. The new product launches will be in addition to 19 refreshed products across all U.S. assembly plants and updated powertrains planned through 2029.
In Illinois, Stellantis plans to invest more than $600 million to reopen the Belvidere Assembly Plant to expand production of the Jeep Cherokee and Jeep Compass for the U.S. market. Initial production launch is expected in 2027, and the company anticipates the creation of roughly 3,300 new jobs.
With an investment of nearly $400 million, Stellantis plans to move assembly of an all-new midsize truck from Belvidere to the Toledo Assembly Complex in Ohio, joining Jeep Wrangler and Jeep Gladiator production. Stellantis says the production shift could create more than 900 jobs, and the launch is expected in 2028.
The company also intends to continue with investments previously announced for its Toledo operations, including additional technologies for the Jeep Wrangler and Jeep Gladiator, as well as critical production components at the Toledo Machining Plant.
In Michigan, Stellantis plans to develop an all-new, range-extended electric vehicle (EV) and internal combustion engine large SUV that will be produced at the Warren Truck Assembly Plant beginning in 2028. The company will invest nearly $100 million to retool the facility. It is anticipated that the new program will add more than 900 jobs at the plant, which currently assembles the Jeep Wagoneer and Grand Wagoneer.
Stellantis also plans to invest $130 million to prepare the Detroit Assembly Complex – Jefferson for production of the next-generation Dodge Durango. Production is anticipated to launch in 2029.
In Indiana, Stellantis will make additional investments in several of its Kokomo facilities to produce the all-new four-cylinder engine — the GMET4 EVO — beginning in 2026. Plans call for the investment of more than $100 million and the addition of over 100 jobs.
The company’s U.S. footprint includes 34 manufacturing facilities, parts distribution centers and research-and-development locations across 14 states. These operations support more than 48,000 employees, 2,600 dealers and nearly 2,300 suppliers. Today’s announcement builds on previously announced actions in January.
Stellantis is a Netherlands-based automaker that was created in early 2021 through the merger of Fiat Chrysler Automobiles and France’s PSA Group. Its portfolio of brands includes Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys.
Stellantis North America, known historically as Chrysler, is based in Auburn Hills. Stellantis is part of the “Big Three” automakers in addition to Ford and General Motors. All three are headquartered in metro Detroit.
The stock price for Stellantis opened at $9.95 per share Wednesday, Oct. 15, down from $12.91 per share one year ago.
— Kristin Harlow