Stellantis has plans that aim to increase the production chain it has in the USA by 50%, which will require the creation of more than five thousand new jobs. All in all, the planned investment amounts to 13 billion dollars.
The group manufactures cars all over the world, owning brands such as Citroën, Opel, Peugeot, FIAT, Lancia, Maserati or Alfa Romeo, among others. He released the information on Tuesday, October 14th.
In the next four years, that is, until 2029, Stellantis wants to launch five new models “in key segments” in what he describes as the “critical market” of the United States. The company clarifies that this is the “largest single investment in its 100-year history”.
The new plans refer to the group’s factories in Illinois, Ohio, Michigan and Indiana. In all of them, investments, creation of new jobs and the launch of new car models are in the pipeline.
Western automobile industry is experiencing increasing difficulties
Rising costs as investment in electric vehicles grows represents a barrier. Another problem is raised by the competition imposed by Chinese companies, whose market share grows every year.
In this context, the tariffs on the sector imposed by the Donald Trump administration create further obstacles, making imports much more expensive. With the measure, The North American president wants companies that sell their products and services in the USA to produce more in that territory, increase jobs and invest more in the country.
All in all, the sector is weakened and Stellantis itself is not escaping the trend. Furthermore, the company’s shares, which trade on the New York Stock Exchange, have already fallen 24% since the beginning of the year. Even so, they appreciated more than 2% on Tuesday, due to the announcement made by the company.